7 Story Residential Project Revealed

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A planned 65-unit residential building at 34-22 35th Street in Astoria has finaly been revelaed, according to newyorkyimby. 

The building will consist of ground-floor retail space averaging around 1,352 square feet, and 665 square feet rental units.

The property was bought for a price tag of $16 million dollars, in an off market deal and will be developed by Fairfield County-based Valyrian Capital while the designs are by Kutnicki Bernstein Architects. 

The building will be in close vacinity of the N/Q and the M/R trains, with many Astorian locals voicing their concerns with overflooding of the train stations in peak hours. 

The project is only one of few that have recently been approved in Astoria, with residential buildings a hot commodity, along with fear of rising rental prices.