A new residential building is a-rising at 25-27 23rd Street in Astoria.
The three-story development will have 36 units, with Long Island City-based GKA Design Group as the architect of record, according to the plan exam application filed January 24th.
The proposed 23,906-square-foot building, located between Astoria Boulevard and 25th Road, will rise on two combined lots. Last year, the developer, 25-27 Astoria LLC, acquired a two-family brick building at 25-27 23rd for $999,500 and a one-story garage at 25-17 23rd for $790,000.
It’s been a good quarter for Astoria, where average sales prices for one-bedroom condos reached $400,000-plus for the first time, according to a new report from Modern Spaces.
One-bedroom condos hit an average of $403,000 in the fourth quarter of 2013, up from $388,000 the previous year. Meanwhile, two-bedroom condos sold at an average of $595,000. The average rental rate was $2,623 per month.