The latest launching pad for big-scale residential development in Astoria, Queens, has hit the market with an asking price of $60 million. The development site, located at 11-12 30th Drive, a parcel that stretches from the Astoria waterfront along Vernon Boulevard inland to 12th Street, can accommodate up to 460,000 square feet of residential space according to sources. Height limitations permit a building up to 10-stories tall.
In the late 1990s, a storage yard at a plastics factory on the site was gutted by a massive fire.
The parcel is currently home to a single-story factory building occupied by Bohea Associates, a grocery wholesaler. Adam Spies and Doug Harmon, brokers at Eastdil Secured, are handling the sale of the property on behalf of owner Vernon Realty Associates.