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Brokerage
Posted: August 26, 2025
Nassimian of Highcap Group sells Astoria Queens site
Queens, NY Rodney Nassimian, director of investment sales at Highcap Group LLC, negotitated the sale of two adjacent lots located at 27-28 and 27-30 21st St. in Astoria with additional air rights purchased from 27-24 21st St. The two properties sold for $5.525 million ($220 per buildable s/f) with an additional $805,000 for the air rights.
The lots have a combined 50 ft. of frontage and allows for 25,000 buildable s/f as of right in the R7X/C2-3 zoning. Nassimian negotiated the highly sought-after development opportunity in this prime area of Astoria.
Nassimian said “After the property had been marketed for some time with other brokers involved, I was able to bring forward a capable buyer who was looking to move quick.”
After finalizing the purchase & sale of the two lots, Nassimian negotiated the air rights purchase to bring in another 8,350 s/f from the neighboring property at $96 per buildable s/f.
The new owner plans to develop a 14- story building spanning 43,000 s/f with retail and 50 residential units with the use of the UAP program bonus.
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