For Sale
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83-30 Kew Gdn RdQueens, NY 11415

52 Units, 89,721 SF, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional seven-story, Class A apartment building, located at 83-30 Kew Gardens Road in Queens, NY, presents a compelling investment opportunity. The 89,721 square foot property boasts 52 units, currently operating at 97% occupancy. Built in 1931 and situated on a 24,027 square foot lot, the building is zoned R5. Amenities include a fitness center, children's playroom, lounge, game room, bike storage, parking, and a roof deck. Units are configured as one-, two-, and three-bedroom luxury apartments featuring stainless steel appliances and hardwood floors. Many units offer outdoor space. The building benefits from a stable, long-term commercial tenancy and approximately $258,000 per annum in preferential rents, offering immediate upside potential. Two years remain on a 15-year 421 tax abatement. The property's prime location, less than five minutes from the subway and LIRR, and proximity to Forest Park, Forest Hills Stadium, and the Austin Street retail corridor, ensures strong rental demand. The family-oriented neighborhood and long-term tenants present potential for future condominium conversion. This is a rare chance to acquire an irreplaceable multifamily asset in the highly desirable Kew Gardens neighborhood.

Highlights

  • Luxury elevator building with modern finishes and stainless steel appliances.
  • Full-service building with a doorman.
  • $258,000 in preferential rents, offering significant upside potential.
  • Stable, long-term commercial tenancy.
  • Extensive amenities including bike storage, parking, roof deck, and lounge.
  • Excellent location near Forest Park, major retail, and LIRR/subway access.

Property Details for 83-30 Kew Gdn Rd

Property type
Apartment buildings
Square Feet
89,721 SF
Class
A
Year Built
1931
Buildings
1
Stories
7
Units
52

Location Insight

City
Queens
County
Queens
State
New York
Latitude
40.7092568
Longitude
-73.8271751
83-30 Kew Gdn Rd, Queens, New York

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83-30 Kew Gdn Rd
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