Queens, NY Alfonso Holloman, CCIM, senior managing director/principal of Lee & Associates NYC has arranged the sale of the property at 26-24 & 26-26 Fourth St., between 26th and 27th Aves., in the Hallets Cove subsection of Astoria for $11.5 million to Bruman Realty. The property consists of two contiguous tax lots, which account for a combined total of 25,473 s/f, zoned residential. One of the tax lots is improved with a 20,000 s/f warehouse and the remainder is vacant land. A total of 67,982 s/f can be built on the property as of right.
“Located in the Astoria neighborhood of Hallets Cove, this property couldn’t be positioned better in terms of development opportunities,” said Holloman, who represented Bruman Realty and the unnamed seller. “The combination of the recent Amazon announcement and the Durst Organization’s seven-building megaproject currently under construction nearby will add to the excitement in this rapidly changing neighborhood.”
The Astoria dock of the NYC Ferry is less than a five-minute walk from the property, providing convenient access to both lower and midtown Manhattan.