5-11 50th Avenue
5-11 50th Avenue
Sold 12/22/21
Sold 12/22/21
Description
The building has a cell phone net-lease in place paying $3,210/month (3% escalations) that has multiple offers around $600K,...Compass has been retained on an exclusive basis to arrange for the sale of 5-11 50th Avenue in Prime Long Island City -- a 6100 SF, condo-quality building consisting of 4-units with a two-car garage and numerous outdoor spaces. The property’s mixed-use zoning allows for first floor retail, a condo conversion with a quick turnaround, as well as numerous other opportunities.
The building has a cell phone net-lease in place paying $3,210/month (3% escalations) that has multiple offers around $600K, allowing an owner to purchase in full and then lower their basis to ~$4.35M.
With condos in the area selling for upwards of $1,250/SF and rents over $60/SF, 5-11 50th Ave has excellent potential as an income-based investment, as a condo conversion, or for an end-user, either as a residential single-family with parking, or for a commercial end-user as prime retail with residence(s) above.
Please reach out for a setup, pro-forma, or for any questions. Co-brokers always welcome.
Listing Agents
![Nathan Horne]()
nathan.horne@compass.comP: 706.255.5657
![Nancy Robbins]()
nancy.robbins@compass.comP: 917.797.8907
![The Litvak Team]()
thelitvakteam@compass.comP: 646.679.3851
Amenities
- Open Views
- Private Terrace
- Private Yard
- Private Roof Deck
- Decorative Fireplace
- Hardwood Floors
- Elevator
- Walk Up
Location
Property Details for 5-11 50th Avenue
| Status | Sold |
|---|---|
| MLS ID | H6119073 |
| Days on Market | 107 |
| Taxes | $3,633 / month |
| Maintenance | - |
| Min. Down Pymt | - |
| Total Rooms | 16.0 |
| Compass Type | Townhouse |
| MLS Type | Multi Family |
| Year Built | 2004 |
| Lot Size | 2,500 SF / 25' x 100' |
| County | Queens County |
Building
5-11 50th Ave
Location
Building Information for 5-11 50th Avenue
Payment Calculator
$29,419 per month
30 year fixed, 7.25% Interest
$25,786
$3,633
$0
Property History for 5-11 50th Avenue
| Date | Event & Source | Price | Appreciation | Link |
|---|
| Date | Event & Source | Price |
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For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 5-11 50th Avenue
Schools near 5-11 50th Avenue
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 8 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | 6 to 8 |
Rating | School | Distance |
|---|---|---|
P.S. 78 PublicPK to 8 | ||
Is 204 Oliver W Holmes Public6 to 8 | ||
Long Island City High School Public9 to 12 | ||
Hunters Point Community Middle Public6 to 8 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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