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The Bevy presents new condos near Astoria's growing waterfront (All image via Modern Spaces) The Bevy presents new condos near Astoria's growing waterfront (All image via Modern Spaces)
According to news reports (and anecdotal broker insights), first-time homebuyers are swooping in on NYC's soft real estate market. While Manhattan has registered a nearly 50% drop in sales volume since the onset of the pandemic, in less high-priced business-oriented neighborhoods/suburbs, the market has stayed abreast or is oftentimes thriving.
Largely due to increased demand, Queens-based The Real Deal reports that home prices in Astoria have jumped 19% in Q2 2020 as many first-time homebuyers seek out more breathing space while still wanting to be close to the action. Launching sales during this opportune time is The Bevy, a newly-built condo at 14-11 31st Avenue, situated near Astoria's burgeoning East River waterfront and recently-expanded NYC Ferry service.
Typical kitchen
Bath finishes
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The Bevy brings to market 10 studio and one-bedroom condos said to be "exquisitely designed with clean modern lines and choice finishes." The building's designer is the prolific Gerald Caliendo Architect who drew up a simple yet handsome beige-brick facade with oversized windows and frosted glass balconies. All homes have floor-to-ceiling windows, convertible layouts, and kitchens with quartz countertops, glass backsplash, and premium KitchenAid appliances. Nearly every home has a private balcony and upper-floor units have open views of the neighborhood and Manhattan skyline.
Buyers in the building will be treated to the highly-coveted 15-year 421-A tax abatement, a program that provides low carrying costs to owners for years to come. As of early September, the first two apartments to come online are a pair of one-bedrooms on the second and third floors. The 654-square-foot #2A has an ask of $682,238 and is bathed with southern light and has a balcony overlooking the wide but residential 31st Avenue. Unit #3B faces north and has far-reaching views towards the Triboro/RFK Bridge. It has an ask of $727,899. The prices blend to just over $1,000/ft2 and initial taxes will be a basement-bottom $67/month.
Astoria views condos The view north over low-rise Astoria
Shared conveniences include a common roof deck, resident storage, and on-site parking (for a fee). The neighborhood is already well-regarded for its restaurant-bar scene, human-scale, warmth, and growing cultural footprint (the film studios are coming!). A hidden graffiti district and Socrates Sculpture Park are a short walk from the building, as well as a Costco supermarket and the 30th Avenue elevated train station serving the N and W lines. The ferry and subway lines offer easy commutes to Midtown Manhattan in about 30 minutes (or less).