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Real Estate Group Buys Three Building Sites

By Ilija Sekulovski

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Astoria Boulevard is one of the areas yet to be completely developed in the neighborhood – we’re seeing the cafes and restaurants slowly spreading there, but there’s been a huge increase in upscale rentals being built outwards down the boulevard.

 

Recently, two investors bought nearly half a block of building space on Astoria Boulevard – three entire buildings. The addresses include 21-03, 21-07, and 21-09 Astoria Boulevard, as reported by The Real Deal Real Estate News. The spaces sold for a whopping $7.5 million dollars.

 

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Now, the two investors (who are Little Neck and Bayside based), know exact what they want to do with the space: residential apartments and retail. Exactly what’s there now…but amped up. There is reportedly 5,000 square feet of retail space, and space for more than 60 apartments. The retail footage is currently occupied by various small stores, including a take out restaurant and 99 cent store.

 

The location is right across from the luxury EXO apartments, which made news just three short months ago when a man beat his heroine addicted roommate to death with a hammer. There’s also multiple other residential buildings that are currently in the works in the area – so it seems that those few blocks will see stark increases in rent as the apartment buildings in the area get upgraded.

 

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