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Steinway Street Building Hits the Market for $2.25M, Broker Boasts Good Deal Amid Amazon Frenzy

31-64 Steinway St., a two-story building selling for $2.25 million. (Courtesy of Goldenwood Property Advisors)

Jan. 3, 2019 By Meghan Sackman

A two-story building on Steinway Street formerly occupied by Pole Berg, a men’s clothing store, is now on the market for $2.25M.

The property, located at 31-64 Steinway St. just off Broadway, spans 3,300 square feet between its two floors.

The sale is being arranged by Goldenwood Property Advisors, who said the asking price is practically the best deal on the market despite the frenzy created by Amazon building its headquarters in nearby Long Island City.

“The economic injection brought about by the arrival of Amazon HQ2 location in Long Island City will undoubtedly increase the value of real estate in the Astoria area,” said Rubin Isak, the listing broker for the property.

He added: “At $681/SF on this block, this is arguable the best deal on the market in Astoria.”

Pole Berg, which has sold men’s clothing at the site for nearly 20 years, will vacate the building prior to the sale closing.

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15 Comments

J. Goodman

A one story single story Store across the street on the same side of the street as McDonald’s had already sold for over 2 million earlier this year..

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Anonymous

Rubin Isak: “Amazon…will raise real estate values in Astoria…” Would someone please ‘splain to me how Amazon moving to LIC benefits Steinway Street retail properties. Why would they be worth more because of this? ‘Splain to to me o Great One.

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your_neighbor

I’m not sure about Amazon but Silverstein (owner of the World Trade Center) is building a couple thousand apartments on the full block and a half that they now control on 40 st between 35 and 36 ave. Their parcel also includes the used car lot directly on Steinway. They are just waiting for Mayer Malbin to move out in the next 2 months (they just sold to Silverstein) and some of the current tenants leases to expire.
One block off of Steinway – this should at least rejuvenate the Broadway to Northern Blvd portion of Steinway

https://therealdeal.com/2018/06/13/silverstein-inks-ground-lease-for-massive-astoria-dairy-plant-site/

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Jim

Because even if you work a 100k job at Amazon you still can not afford LIC. Therefore, you move to the next area…Astoria. Then Astoria raises rents to accommodate the demand.

Astoria becomes an even more valuable real estate option.

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Pat McNamara

A single person making 100K can afford LIC. That is unless they have a very expensive meth habit.

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R. Goodman

because over 2500 more people will be employed there, and many of them will be residing in the Astoria area.

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Anonymous

keep it coming. Steinway needs to a complete makeover (especially the god awful lounges need to go asap). Keep the Italian tailors and kinship coffee and we should be all set.

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Astorian4Life

I’m guessing you’ve never been to a hookah bar. I’m also guessing that you’re white and don’t like Arab looking people.

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Astorian4Life is a transplant

What’s to like? Their welcoming demeanor? How clean they keep the sidewalks in front of their shops? How they double park with impunity? Such a cheery bunch said no one ever…

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Astoria racists now and always

Astoria is just as racist now as it was back in the 70’s and 80’s. The Italians that used to live in Astoria left to go to Long Island because they didn’t want to be around the Greek wanna be’s and then the Greeks left to Whitestone because they didn’t want to be around the Spanish people moving in and now the Greeks and Italians are kicking themselves for selling and missing out on the fortunes that the Arabs who bought the real estate are making. Except for the Mafia whites, almost all of Astoria is now owned by Asians and Arabs. Get used to it. I grew up in Astoria, and remember when the only big stores were Woolworth and Genovese pharmacies and the old movie theater that was next to where Radio shack opened up. The Good old days of parking where you wanted to are gone. Idiots that double park on Steinway see half their paychecks paid to the city in poor man’s tax and the other half paid in even poorer man’s tax in the form of Lotto tickets. Be thankful for the stupid people who pay money to the government because of bad judgement; they are the ones paying for your disability benefits.

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