Astoria's New Development Boom
Astoria is in the middle of a building boom. New York YIMBY checked in on seven new residential projects underway that will add hundreds of homes to the southern end of the neighborhood, along and below 35th Avenue. The biggest are a 27-story, 560-unit rental tower at 35-10 Steinway Street and Elara, a two-building, 429-unit complex near 41st Street. Most of the new supply is rentals, which matters whether you're renting, buying or selling here.
35-10 Steinway Street
Demolition is finished on the former Innovation QNS site, where LMXD and BedRock Real Estate Partners plan a 27-story, all-electric rental building designed by Beyer Blinder Belle. It will have 560 apartments, from studios to three-bedrooms, with about 140 set aside as affordable at an average of 60% of area median income. A P.C. Richard & Son will anchor the ground floor, and rooftop terraces will sit on setbacks at the 6th and 25th floors.
The project is backed by a $250 million construction loan, and excavation could start before the end of 2026. It's steps from the M and R at Steinway Street. Read the full 35-10 Steinway Street report on New York YIMBY.
Elara on 41st Street
The Domain Companies is building Elara, a two-building complex designed by S9 Architecture near 41st Street and 36th Avenue. Elara East will rise 18 stories with 330 apartments, and Elara West 12 stories with 99. Of the 429 units, 107 will be permanently affordable, and there's 4,000 square feet of ground-floor retail.
The amenity list is built for today's renters: fitness centers, coworking space, a screening room, a listening lounge, a golf simulator, a children's playroom, a dog wash, courtyards and a shared roof terrace. Elara West is expected to open in February 2028 and Elara East in September 2028. Read the full Elara report on New York YIMBY.
The full pipeline
Beyond the two big projects, permits have been filed for a steady stream of mid-size buildings across the neighborhood, most near the N and W along 30th and 31st Avenues.
Address | Height | Homes | Status |
|---|---|---|---|
27 stories | 560 rentals, about 140 affordable | Site cleared; completion expected January 2029 | |
18 and 12 stories | 429 units, 107 permanently affordable | Openings expected February and September 2028 | |
13 stories | Residential | Permits filed, September 2026 | |
9 stories | Mixed-use | Permits filed, July 2026 | |
9 stories | Mixed-use | Permits filed, July 2026 | |
7 stories | Residential | Permits filed, September 2026 | |
6 stories | Residential | Permits filed, August 2026 |
Source: New York YIMBY Astoria coverage, July–October 2026. Click an address for the full report. Unit counts for the permitted buildings haven't been released.
Two smaller buildings also opened affordable housing lotteries this fall, as reported on New York YIMBY: 34-38 30th Street, with units for households earning 130% of area median income, and 23-57 31st Street, with units at 80%.
What it means for you
I live in Astoria, and the buildings going up confirm what I see every day: people want to be here. But nearly all of the large-scale supply is rental. That gives renters more choice and will bring more residents, shoppers and investment to the neighborhood, while adding very little for buyers.
For owners, that's a good setup. In Northwestern Queens, which includes Astoria, the median condo price rose 7.6% to $915,000 in the third quarter, and the average condo price per square foot climbed 7.5% to $1,343, according to the Compass Queens Market Report. Right now, new development condos in Astoria are selling slightly better than resales, so sellers of older units need to price with that competition in mind.
- Renters will have more options.Nearly 1,000 new rental apartments are coming between 35-10 Steinway Street and Elara alone.
- Buyers still face limited supply.Few of the new projects are condos, so well-priced homes for sale will stay in demand.
- Southern Astoria is changing fastest.The blocks along and below 35th Avenue near Steinway Street will look very different by 2029.
- Resale sellers should price sharply.New development condos are currently outselling resales, so condition and pricing matter.
My recent Astoria sales
Click an address for details.
- 34-32 35th Street #2DAstoria$820,000
- 31-22 29th Street #4AAstoria$999,000
- 11-24 31st Avenue #4EAstoria$990,000
- 11-24 31st Avenue #7CAstoria$695,000
Frequently asked questions
What new buildings are being built in Astoria?
New York YIMBY is tracking a wave of projects, including seven developments underway along and below 35th Avenue, a 27-story, 560-unit rental tower at 35-10 Steinway Street and Elara, a two-building, 429-unit complex near 41st Street and 36th Avenue. Permits have also been filed for buildings of 6 to 13 stories on 12th Street, 29th Street, Crescent Street, 30th Avenue and 31st Avenue.
When will 35-10 Steinway Street be finished?
Demolition is complete, excavation could start by the end of 2026, and completion is expected in January 2029. The 27-story building will have 560 rental apartments, about 140 of them affordable, plus a P.C. Richard & Son store on the ground floor.
Are the new Astoria buildings condos or rentals?
The largest projects, 35-10 Steinway Street and Elara, are rentals. That means most of the new supply is for renters, while buyers looking for new development condos still have a limited number of options.
Will new construction lower Astoria home prices?
More rentals add choice for renters, but they don't add many homes for sale. In Northwestern Queens, which includes Astoria, the median condo price rose 7.6% to $915,000 in Q3 2026, according to the Compass Queens Market Report.
Are there affordable housing lotteries in Astoria?
Yes. Recent lotteries include 34-38 30th Street, with units for households earning 130% of area median income, and 23-57 31st Street, with units at 80% of area median income. About 140 of the 560 apartments at 35-10 Steinway Street will also be affordable.
Which subway lines serve the new Astoria developments?
35-10 Steinway Street and Elara are near the M and R at Steinway Street, and Elara is also near the N and W at 36th Avenue. Several of the permitted buildings are close to the N and W at 30th Avenue.
Is it a good time to buy in Astoria?
Demand for new development condos remains strong, and the new rentals coming online will keep drawing people to the neighborhood. Reach out for a private consultation and I'll walk you through what's available and what it's worth.
Thinking about buying, selling, or renting in Astoria? Contact Darrell Williams for a private consultation, or view my Compass profile and listings.
