9-16 27th Avenue
Bridge Property advisors has been exclusively retained to market for sale 9-16 27th Avenue (the “Properties” or “Site), a residential and/or community facility development opportunity in the historic neighborhood of Old Astoria in Queens. Located on the south side of 27th Avenue, between 8th and 12th Streets, 9-16 27th Avenue, the land is currently improved by a 26,130 square foot community facility building with surrounding open space. The Properties are made up of two separate tax lots, lot 6 and lot 17, separated by an unmapped street known as Blackwells Lane.
Lot 6 is split between two zoning districts, R4 and R5B. Approximately 10,000 SF of the lot lies in R4 and
approximately 24,085 SF of the lot lies in R5B . Assuming no change in its current zoning, the lot permits 40,015 ZSF of residential and 68,170 ZSF of community facility. Lot 17 measures 7,850 ZSF and is currently zoned R6 which offers a residential redevelopment of 2.2 – 2.43 FAR, thus allowing between 17,270 ZSF and 19,076 ZSF of residential and 37,680 of community facility.
The total allowable residential for both lots is between 57,285 ZSF and 59,091 ZSF. The total allowable community facility for both lots is 105,850 ZSF.
9-16 27th Avenue is exceptionally located two blocks away from the Astoria Park and a five-minute walk to the Astoria waterfront and the Astoria Ferry Terminal providing convenient access to Long Island City, 34th Street, 90th Street, Wall Street/Pier 11 and the Brooklyn Navy Yard.
Astoria is a vibrant and culturally rich neighborhood that is known for its landmarks and cultural attractions such as Kaufman Astoria Studios, Steinway & Sons Piano Factory, Bohemian Hall and Beer Garden, Museum of the Moving Image and Noguchi Museum as well as its beautiful parks, including Astoria Park and Socrates Sculpture Park. New development residential rentals range from $50-65 PSF and condominium sales range from $1,000-$1,250 PSF.
This offering presents a prime opportunity to build a brand new residential or community facility building in the most sought-after residential neighborhood in Queens that offers a unique blend of landmarks, parks, restaurants, and top academic institutions.