The Real Deal New York

Steinway Mansion land to be divided to encourage sale

April 18, 2013 11:45AM

The owner of Astoria’s iconic Steinway Mansion is willing to sell the property and three of the seven plots of land that it sits on for a reduced price of $1.9 million, the New York Daily News reported. The property and the full seven plots had been on the market for a total $2.9 million.

Michele Kazarian said she is willing to split up the property to generate a deal with a buyer who wants to preserve it. Previously, prospective buyers have been put off by the expansiveness of the property.

“Separating the properties creates that opportunity that was not there before,” she said. “This is so much more within reach.”

Kazarian is being criticized by historical and preservationist groups for selling the land surrounding the mansion. A sale of the plots could pave the way for a large commercial development, they said.

“That would really hem in the building,” said Bob Singleton, executive director of the Greater Astoria Historical Society. “I think the entire parcel should stay together.” [NYDN] Katherine Clarke