The Real Deal New York

Astoria Sports Complex hits the market as a development site

Popular batting-cages spot offers 125K buildable square feet
By Mark Maurer | Twitter_logo_blue copy December 16, 2015 04:00PM

After holding onto it for nearly four decades, the owners of the Astoria Sports Complex, a neighborhood staple known for its batting cages and indoor soccer, are looking to sell the property for $40 million, sources said.

The 70,000-square-foot complex at 34-38 38th Street, near 35th Avenue, offers more than 125,000 buildable square feet. The site is ripe for development – either a ground-up development or conversion into office, retail or both, sources said. Given its M1-5 zoning, any residential development would require a variance. There is a total of 125 feet of frontage on 37th and 38th streets.

The development site’s asking price comes to $320 per buildable square foot.

Steve Poliseno’s Astoria Ice has owned and operated the four-story complex since 1977, records show. DY Realty Services’ Zion Segev, who declined to comment, is marketing it.

The complex is just a block away from a 69,000-square-foot commercial building that Kaufman Astoria Studios sold earlier this month for $30 million, as The Real Deal reported Tuesday.

Office asking rents are in the $40s per square foot. In July, WeWork inked a lease for the majority of an Astoria warehouse at 35-37 36th Street.