JLL is pleased to present for sale 36-20 Steinway Street, The ASTOR LIC, a newly constructed 143-unit mixed-use building in the heart of Long Island City and Astoria, Queens at the intersection of Northern Boulevard.
The 155,000 square foot offering is comprised of 143 residential units, ~12,000 SF of prime retail space with 18-foot-high ceilings, and 126 parking spaces. The fully-amenitized space offers a virtual doorman, parking garage, tenant and bicycle storage, a tenant lounge with fire place, co working area, conference area, outdoor kitchens and various outdoor seating areas. It also offers a fitness center.
LIC is a unique and highly desirable QOZ. With a median household income of $142,348 and immediate connection to Midtown Manhattan, the property contains superior fundamentals with exceptional demographics compared to other zones.
The ASTOR LIC is eligible for Affordable NY and ICAP tax abatements. ICAP provides property tax abatements for periods of 15-25 years. The 421-a Affordable NY program offers opportunity for a 35-year tax program in exchange for an affordability component.