Halletts Point, Astoria New Rental Development, Ways Reef, Launches

Citadel Property Management Named Exclusive Leasing and Marketing Agent for Astoria's Newest Rental Development, the Ways Reef Apartments

- The new development located at 26-19 2nd Street, Astoria / LIC, New York will be begin renting in early March -

(Astoria, NY - March 3, 2023) - Citadel Property Management, www.citadelnyc.com, a full-service real estate brokerage and management company based in Manhattan, has been retained as the exclusive leasing, marketing & managing agent for Astoria's newest rental development, the Ways Reef Apartments. The project was developed by Daniela Development Corp. The owners, John and Gino Fazio of Fazio Construction are New York-based builders who have traditionally developed commercial facilities, medical centers and houses of worship. This is their first foray into the residential arena.

The Ways Reef Apartments www.waysreef.com is a brand-new, 25-unit residential building that offers a mix of one and two bedroom apartments, with eight affordable housing units and 17 non-affordable units designed by DiProperzio & Mallia, LLP Architects.

With a mix of modern, spacious interiors and versatile layouts, the Ways Reef Apartments are designed to meet the needs of a wide range of residents.

Building features include: a virtual doorman, bike storage, private terraces and landscaping, as well as communal outdoor space.

Apartment features include: condo-grade finishes and high-end appliances, including dishwashers. Apartments range in size from 491 square feet to 697 square feet. Market rent units range in price from $2660 to $4350.

The building is a short walk from the Astoria - NYC Water Taxi

Located on the Northern end of Halletts Point, Astoria New York on a small peninsula jutting into the East River at the entrance to the Hell Gate section of the river, the Ways Reef Apartments is set to provide residents with breathtaking views of the city and the river. The neighborhood of Halletts Point has a rich history. The property, once owned by Stephen A. Halsey, was widely known as the father of Astoria, he named Astoria after John Jacob Astor in the hopes of Astor backing his investment as a benefactor in the investment and development of the neighborhood. Astoria is known for its vibrant community, diverse culture, and easy access to transportation, making it a sought-after location for those looking to enjoy everything the city has to offer.

“Citadel continues to prove that they are a high-quality building management, brokerage & marketing firm, says John A. Fazio, owner, Ways Reef. ‘We cannot wait to expand our relationship with Citadel in the near future.

"As a resident of the area, I am particularly thrilled to be working with the developers of the Ways Reef Apartments to bring this exceptional new development to the Astoria/LIC market," said Michael Crespo, president, Citadel Property Management. “With a growing demand for high-quality rental properties in the area, the Ways Reef Apartments provide a unique opportunity for residents to experience the best of Astoria living at an affordable price. We are confident that our expertise in the Queens market will help us to meet the needs of residents in this growing community."

According to Citadel, Astoria is one of the fastest growing markets in all of New York. Average rents in Astoria have risen approximately 20% year over year with on-market comps for rentals rising close to 30% since March of last year. One-bedroom units in Astoria are averaging $2735 and two bedrooms are averaging $3250, with the newer developments pricing higher. This particular area of Halletts Point is developing very rapidly with several large projects in various stages of completion. This trend should continue as The Halletts Point area still offers a good alternative to many of the pricier LIC projects where pricing could be anywhere from 30 to 50% higher. This is a major reason why Astoria prices have been advancing at a faster clip than LIC and nearly every other neighborhood in NYC.

For more information about the Ways Reef Apartments, please contact Citadel Property Management at 646-654-0722 or visit their website at www.citadelnyc.com. You can also visit the building's website at www.waysreef.com.

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About Citadel Property Management:
Citadel Property Management is a NYC-based, full-service real estate services company, specializing in Property Management, Real Estate Brokerage and Marketing, New Development Consulting, Facilities and Construction Management.