This two story high, red-brick, solid property was built in 1927 and is strategically located in one of the stable middle class neighborhoods of Astoria that is being upgraded, next to Astoria Park. It stands conveniently on the corner lot(33 ft facade on one street of the corner and 44 ft long on the other street) and is zoned as a mixed-use commercial property. You have an opportunity and freedom to use these property as you please as the right to change how the units on the premises are used have been grandfathered. Currently, the ground floor is occupied by a famous LoRusso cafe. LoRusso's is one of the few cafes in the U.S. specializing in focaccia. It also offers a large menu of other Italian-inspired foods, including both thin and deep-dish pizzas, calzones, pasta, parmigiana and primavera dishes, soups, salads and hero sandwiches. It is one of probably only two cafes in the country featuring Apulian styles of focaccia instead of somewhat more familiar Ligurian styles. The property was filmed in the movie Ransom with Mel Gibson and NBC's Smash series and enjoys a high reputation with the clientele. The second floor has a three bedroom apartment(900 sq ft) with a big terrace and a basement(900 sq ft). Current cap rate is estimated at 8%. Documentation may be provided to qualified serious buyers with proof of funds.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
