1418 31st Avenue, Astoria, NY 11106

• 4,591 sqft

Property Description

Azure Realty is proud to exclusively present 14-18 31st Avenue, a trophy 6-unit multifamily asset in the heart of Astoria, Queens, representing a rare, premier acquisition opportunity direct from the original developer. Custom designed and completed in 2016 by renowned architect Steven Kuo, this striking residential masterpiece seamlessly fuses contemporary luxury with elite investment fundamentals, showcasing six immaculate apartments equipped with gourmet quartz kitchens, ultra-contemporary designer bathrooms, rich hardwood flooring, extra-large windows, and a premium video intercom security system. Built for the sophisticated investor, the asset is fully stabilized by a proven roster of premium tenants yielding a strong cap rate near 6%, while offering immediate capital protection through a protected Tax Class 2A designation and an active 421-a tax abatement through 2032, at which point all units legally revert to lucrative Free Market status. Furthermore, a new owner can immediately supercharge revenue and asset valuation through incredible value-add upside, including converting the massive 8-foot-high cellar into 12 to 15 tenant storage units (projected to generate an additional $24,000 to $36,000 annually), installing a coin-operated multi-machine laundry room, and styling the outdoor footprint into a communal tenant lounge. Perfectly situated just steps from the vibrant dining and entertainment along 30th Avenue and Broadway, and within seamless walking distance to the N and W subway stations for an efficient Manhattan commute, this transit-oriented location ensures a perpetual pool of top-tier professional renters. Inquire for building setup!

Listing Status:

Active

Data Last Updated:

June 25, 2026 at 1:20PM

Listing Office:

Azure Realty Group NY LLC : 347-484-9965

MLS ID:

1005439

Interior

• Appliances: CooktopDishwasherExhaust FanMicrowaveOvenRefrigeratorStainless Steel Appliance(s)
• Basement: FullUnfinished
• Flooring: Hardwood
• A/C: ElectricENERGY STAR Qualified Equipment
• Heating: ElectricENERGY STAR Qualified Equipment

Exterior

• Parking: None

Location

• Originating MLS: onekey2
• School District: Queens 30
• County: Queens

Lot

• Zoning: R6B00533-0031

Utilities

• Utilities: Cable AvailableCable ConnectedElectricity AvailableElectricity ConnectedNatural Gas AvailableNatural Gas ConnectedPhone AvailablePhone ConnectedSewer AvailableSewer ConnectedTrash Collection PublicWater AvailableWater Connected
• Water: Public
• Sewer: Public Sewer

Financial

• Source: onekey2