2337 31st Avenue

Description

R6A Development Site with Condo Upside Prime Astoria R6A Development Opportunity – 25’ Wide Lot Exceptional opportunity to acquire a 25’ x 91 (approx. 2,293 sq ft) parcel in the heart of Astoria, zoned R6A and offering approximately 6,800–6,900 buildable square feet (as-of-right residential FAR 3.0). This property is being marketed primarily for land value and redevelopment potential. The R6A zoning supports a mid-rise residential building under Quality Housing regulations, making it an ideal canvas for a builder seeking to capitalize on Astoria’s continued residential demand. With approximately 6,800+ buildable square feet, the site presents multiple strategic paths: • Develop a boutique multi-family rental asset • Construct a high-end condominium project • Build a limited, luxury boutique condo product with strong sellout potential • Long-term hold with future appreciation upside Astoria continues to demonstrate strong buyer demand for new residential inventory, particularly boutique condominium buildings near transit and vibrant retail corridors. The lot’s 25-foot frontage allows for efficient floor plates and practical unit layouts — a key advantage for condo developers focused on maximizing sellable square footage. Highlights: • 25’ wide lot frontage • Approx. 2,293 sq ft lot area • Zoned R6A • Approx. 6,800–6,900 buildable SF (as-of-right) • ~70 ft allowable height (subject to Quality Housing regulations) • Ideal for rental or condominium development • Existing structure conveyed as-is This is a strategic acquisition opportunity for a builder or investor seeking both immediate land control and long-term condo upside in one of Queens’ most resilient residential markets.