June 11, 2019 By Meghan Sackman

Actor Robert De Niro and a developer are reportedly buying a 5.3 acre lot in Astoria and planning to build a film studio.

The site, located near the Steinway Creek at 87 19th Ave., is under contract for $73 million from piano manufacturer Steinway, according to a report from Commercial Observer.

Buyers of the lot include De Niro, his son Raphael De Niro, development firm Wildflower and film producer Jane Rosenthal.

The group plans to turn the site into a 500,000 square foot film studio, according to the Commercial Observer, including a pre and post production studio with a parking facility.

The whole project comes at a total cost of $425 million.

The deal is expected to close by the end of 2019.