We are pleased to announce that Modern Spaces Commercial & Investment Property Group has been retained on an exclusive basis to arrange for the sale of 29-12 Newtown Avenue. The property is a 17 unit, pre-war, walkup apartment building that has been kept in excellent condition. Of the 17 units, most are rent stabilized with the exception of three owner-occupied units and a superintendents’ unit that can be renovated into one or two garden units. Laundry machinery can be added to the property for additional upside. Subway access to the property is unparalleled. The 30th Avenue N & W station is located less than a five minute walk away and is undergoing a renovation that will conclude mid-2018. 29-12 Newtown Avenue offers excellent upside for an investor, with room in both rents and expenses to maximize income. Newtown Avenue is located in the heart of Astoria, a safe, vibrant neighborhood offering food, nightlife, good schools and excellent parks – all only a 30 minute subway ride from midtown Manhattan.

For financial information, please click the link below to view the property setup. Offering memorandum available on request.

29-12 Newtown Avenue Setup Web (PDF)