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Tax Class 2A 6-Unit 3144 35th St 6 Apartment Units Online Auction Sale Astoria, NY 11106
Investment Highlights
- Tax Class 2A protected which prevents the assessed value from increasing more than 8% for one year and no more than 30% over a five-year period.
- Potential future rent law reform could substantially enhance the investment’s value by enabling greater rent growth and repositioning opportunities.
- Desirable location just a short distance from Broadway & Steinway Street, Sean's Place Park, and Queens Public Library.
- 83% Occupied
- The asset is proximate to the E, F, M, R, N, and W subway lines, as well as the allowing tenants affordable and easy access to public transportation.
Executive Summary
This 3-story, Tax Class 2A protected walkup consists of 5,600 square feet with 6 residential units, all of which are rent stabilized. The property is currently 83% occupied and located in one of Queens' most sought-after rental markets. Astoria is defined by a dense mix of pre-war walk-ups, low-rise brick apartment buildings, and tree-lined residential streets that contribute to its enduring appeal. Well-established retail corridors along Broadway and Steinway Street, together with nearby amenities such as Sean’s Place Park and the Queens Public Library, further enhance the area’s livability. The property also benefits from excellent connectivity, with access to the E, F, M, R, N, and W subway lines, as well as the Q18, Q101, and Q104 bus routes, providing convenient transportation throughout New York City. A broad mix of retailers, restaurants, and everyday conveniences adds to the neighborhood’s strength as a stable and attractive residential market.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Property tours are available by appointment only. Please contact the listing broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Property Information
- Operating and Financials
- Purchase Agreement
- Title and Insurance
- Register to Bid Instructions
Market Analytics Click Here to Access
Property Facts
| Sale Type | Investment | Building Class | C |
| Sale Condition | Auction Sale | Lot Size | 0.06 AC |
| Type of Ownership | Fee Simple | Building Size | 4,617 SF |
| No. Units | 6 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1925 |
| Property Subtype | Apartment | Parcel Number | 00624-0058 |
| Apartment Style | Low-Rise | ||
| Zoning | R6B | ||
| Sale Type | Investment |
| Sale Condition | Auction Sale |
| Type of Ownership | Fee Simple |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.06 AC |
| Building Size | 4,617 SF |
| No. Stories | 3 |
| Year Built | 1925 |
| Zoning | R6B |
| Parcel Number | 00624-0058 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
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Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
90/100
Moderately bikeable
60/100
Sale Advisors
Sale Advisors
Matthew Mastrocola, Vice President
Matt Mastrocola is a Vice President of the Colliers Capital Markets Group in New York. Mr. Mastrocola is an accomplished commercial real estate professional who has transacted on a national scale and has significant experience as both a lender and a broker in the multifamily space. He has expertise within the origination, underwriting, and execution of multifamily assets which exceeds over 10 billion dollars in career-to-date volume.
Most recently, Mr. Mastrocola worked as a capital markets broker out of NYC serving his client’s financing needs throughout the country. Mr. Mastrocola was also a Vice President at Arbor Realty Trust where he served an eight-year tenure and managed production for some of Arbor’s most active clients on the company’s top performing originations team. Mr. Mastrocola first launched his career in commercial real estate at Arbor as an analyst and progressed through a variety of front-office positions. Mr. Mastrocola has extensive experience structuring Agency, Bridge, Bank, CMBS, and Life Company loans.
Mr. Mastrocola earned his B.S. from Providence College. He grew up in and currently resides in Bergen County, NJ.
Most recently, Mr. Mastrocola worked as a capital markets broker out of NYC serving his client’s financing needs throughout the country. Mr. Mastrocola was also a Vice President at Arbor Realty Trust where he served an eight-year tenure and managed production for some of Arbor’s most active clients on the company’s top performing originations team. Mr. Mastrocola first launched his career in commercial real estate at Arbor as an analyst and progressed through a variety of front-office positions. Mr. Mastrocola has extensive experience structuring Agency, Bridge, Bank, CMBS, and Life Company loans.
Mr. Mastrocola earned his B.S. from Providence College. He grew up in and currently resides in Bergen County, NJ.
Zachary Redding, Managing Director
Zach Redding is a Managing Director of Colliers’ Capital Markets Group in New York. Mr. Redding has extensive experience arranging commercial investment sales, as well as debt & equity financing of all asset classes throughout the New York Metropolitan and Tri-State Area.
Prior to joining Colliers in 2022, Mr. Redding was a Senior Director at B6 Real Estate Advisors based in New York, where he was a top producer of sale transactions. In 2020, Zach Redding was honored as the Real Estate Board of New York’s Most Promising Salesperson of the Year. Mr. Redding was also honored by Commercial Observer as one of the Top 30 Sales & Leasing Professionals Under 30 in the nation in 2019. Prior to B6, Mr. Redding was an Associate Director at Cushman & Wakefield, responsible for all financial analysis and transaction management for Paul J. Massey Jr. (President of New York Investment Sales at that time). Mr. Redding also served as Mr. Massey’s Chief of Staff during his candidacy for Mayor of New York City in 2016-2017.
Mr. Redding earned his B.S. from West Virginia University where he served as President of the Student Body and as a member of the Board of Governors. He has served as an advisory member for several non-profits, including Projected Destined and New Destiny Housing.
Prior to joining Colliers in 2022, Mr. Redding was a Senior Director at B6 Real Estate Advisors based in New York, where he was a top producer of sale transactions. In 2020, Zach Redding was honored as the Real Estate Board of New York’s Most Promising Salesperson of the Year. Mr. Redding was also honored by Commercial Observer as one of the Top 30 Sales & Leasing Professionals Under 30 in the nation in 2019. Prior to B6, Mr. Redding was an Associate Director at Cushman & Wakefield, responsible for all financial analysis and transaction management for Paul J. Massey Jr. (President of New York Investment Sales at that time). Mr. Redding also served as Mr. Massey’s Chief of Staff during his candidacy for Mayor of New York City in 2016-2017.
Mr. Redding earned his B.S. from West Virginia University where he served as President of the Student Body and as a member of the Board of Governors. He has served as an advisory member for several non-profits, including Projected Destined and New Destiny Housing.
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Photos
Street View
Street
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3% Transaction Fee
Based on Winning Bid Amount
Minimum Transaction Fee
$20,000
Maximum Transaction Fee
$300,000
Example Calculation
Winning Bid Amount
$5,000,000
Transaction Fee
$150,000 (3%)
Total Purchase Price
$5,150,000
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Tax Class 2A 6-Unit | 3144 35th St
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