The Astor

Highlights

• Long-Term Affordable New York (421a) and ICAP Tax Abatements
• New 20-Year Retail Lease to Lexus of Queens with a Corporate Guarantee
• Strong Presence in Bustling Retail and Residential Corridor
• Experience the Pinnacle of Luxury in the Thoughtfully Designed Units
• Premier Amenities for Modern Living
• Long Island City is the Fastest Growing Neighborhood in the Country and is Experiencing Some of the Highest Rental Growth in New York City
• Submarket Appreciation
• Convenient Access to Public Transportation

Description

Avison Young is pleased to present an outstanding opportunity to acquire the 99-year leasehold position with 92 years remaining at 36-20 Steinway Street, known as The Astor (the “Property”), a newly constructed six-story, 70/30 asset situated in the thriving Long Island City. The fully occupied property boasts 421a and ICAP tax abatements, along with a freshly secured 20-year retail lease to Lexus, ensuring a steady and reliable cash flow from day one.

N/A

Documents