Urban Upbound Acquires Retail Building In Astoria, Queens For $5.5M

A retail building located at 31-35 Steinway Street in Astoria, Queens, was recently sold in a closed transaction. The buyer, Urban Upbound, acquired the property from the seller, Daniel Group - Bruce H. Lederman, for a total sale price of $5,473,575. The building has a total square footage of 9,000, with an additional 4,500 square feet of air rights, resulting in a total buildable square footage of 13,500. The price per square foot for the property is $608, and the price per buildable square foot is $405.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $5,473,575
• Address: 31-35 Steinway Street, Astoria, Queens
• Market: Astoria, Queens
• Buyer: Urban Upbound
• Seller: Daniel Group - Bruce H. Lederman
• Square Footage: 9,000
• Buildable Square Footage: 13,500
• Price per Square Foot: $608
• Price per Buildable Square Foot: $405

Urban Upbound, a nonprofit organization, made the purchase through its affiliate, East River Development Alliance. The sale of the retail building was finalized on April 17, 2023, according to public records.