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Another Steinway Street Property Likely to be Developed

childrensplace

Sept. 23, 2016 Staff Report

Steinway Street will soon see more construction as the development boom continues.

A 3-story mixed-use building located at 31-53 and 31-55 Steinway Street in Astoria was bought by a real estate development company for $7,450,000 in July. A spokesperson for Zirk Union Tpke LLC,  the development company, said that they would likely develop the site once the existing leases expire.

“The retail is very valuable. So we will probably leave that in place and develop apartment rentals above,” according to the spokesperson in regards to plans for the site.

The spokesperson did not elaborate on a timeline or scale for the project, but noted that they would have to wait to take action until the current leases expire.

The standing structure was built in 1930 and updated in 1992, and is currently occupied by The Children’s Place retailer and office space on the bottom floor, and four apartments on the upper two floors.

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