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5-11 50th Ave #Building

$4,995,000

Hunters Point
Queens, NY 11101
8 bed 4 bath
Townhouse Pending Sale On ZeroDown for 10 years
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About
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.
Listed by: Nathan Horne
MLS#: OLRS-0022404
Source: REBNY
Details provided by REBNY and may not match the public record.

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Frequently Asked Questions

How many beds, baths, and sq. ft. does this home have?
5-11 50th Ave #Building is a null sq ft house with 8 beds and 4 baths.
How long has this home been listed on ZeroDown?
5-11 50th Ave #Building has been on ZeroDown for 10 years.
Is 5-11 50th Ave #Building in a quiet neighborhood?
Ambient noise level around this home is 40 - 50 dBA, classified as moderate - safe for any time period. Sounds like a refrigerator humming.
What are the grocery and delivery options for 5-11 50th Ave #Building?
2 grocery stores at a walking distance of 2-5 mins. Grocery delivery available from 62 stores including Costco, ALDI, BJ's Wholesale Club, Key Food and CVS Pharmacy®. The delivery is powered by Instacart.
What are child care options around 5-11 50th Ave #Building?
For young families in 11101, New York, childcare options include Montessori Kids of LIC, Williamsburg Northside Preschool, The St. Vartan Preschool, and NY Kids Club. Proximity to urgent care centers such as NYU Urgent Care (ED) 16W, The Learning Experience - Long Island City, and UMD LIC Urgent Care is also a plus.
What’s the current price of this home?
5-11 50th Ave #Building is currently priced at 4,995,000.
How many photos are available for this home?
ZeroDown has 6 photos of 5-11 50th Ave #Building.
What are the nearest hospitals/urgent care centers for 5-11 50th Ave #Building?
1 hospitals at a walking distance of 2-5 mins. 2 urgent care centers at a walking distance of 2-5 mins.
What are the school options for 5-11 50th Ave #Building?
2 A+/A/A- rated public elementary schools in the district. Ratings are from Niche The 30th Avenue School (#83 in state) among 2 A+/A/A- rated public middle schools in the district. Ratings and rankings are from Niche. Baccalaureate School for Global Education (#24 in metro), Queens High School for the Sciences at York College (#40 in state), Frank Sinatra School of the Arts High School (#128 in state) among 5 A+/A/A- rated public high schools in the district. Ratings and rankings are from Niche. The nearby elementary school, middle school and high school quality ratings from Niche are very similar. If you have children and desire a consistent school experience as they grow up, this home may be a good place to plant long-term roots.
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