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Retail · New York, United States

Astoria Avenue Retail Condo

Astoria, Queens

The opportunity

Astoria Avenue Retail Condo is a hard-corner node with daily-needs tenancy and one dark unit left by a failed operator. Leases were struck pre-2020, so the in-place cap understates the asset; re-tenant the vacancy and mark two expiries to market. The New York case: a five-borough bid that never fully clears and owners who prefer to trade quietly.

  • 2.6 years WALT across the rent roll
  • One vacant CRU, 1,850 sq ft, shell-ready
  • Two expiries inside 18 months, 14% under market