83-30 Kew Gdn RdQueens, NY 11415

Property Details for 83-30 Kew Gdn Rd

Year built

1931

Property size (Sq ft)

89,721 SF

Property type

Apartment buildings

Description

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.

Location Insight

City

Queens

County

Queens

State

New York

Latitude

40.7093

Longitude

-73.8272

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