$12,500,000
Updated 7 years ago
Sold

Parvel Arms

47-46 40th Street

Sunnyside, Queens | 47th Ave & 48th Ave

50,400 Square FeetIncome Property

$12,500,000
floors / apts6 / 55
Lot Size120'x100'
Built Size120'x85'
ZoneR5
Building TypeLow-Rise
RE Taxes$277,232
Price Per SF
$248

This property was sold for $12,500,000 on 09/24/19.

Building Amenities

  • Voice Intercom
  • Elevator

Property Description for 47-46 40th Street

B6 Real Estate Advisors has been retained on exclusive basis to arrange for the sale of 47-46 40th Street in the Sunnyside neighborhood of Queens, NY. The property is a brick, six story, elevator serviced apartment building located on the west side of 40th street between 47th Avenue and 48th Avenue. The building consists of a total of 55 apartments, of which there are nineteen 2-bedroom units and thirty-six 1-bedroom units. The building is built 120 ft by 85 ft and is situated on a 12,000 sq. ft. (approx.) lot with approx. 50,400 gross square feet. Property Highlights - Prime Sunnyside elevator building close to LIC - Close proximity to Queens Boulevard corridor - Short walk to the 40th St.-Lowery St. 7 line subway station - Under 20 minutes commute to Manhattan - Close proximity to the Greenpoint Avenue retail corridor - 3 deregulated units - 25% upside in existing rents - Many 1-bedroom lines are convertible to 2-bedroom units - Attractive unit mix with open layouts and separate kitchens

Listing History for 47-46 40th Street

Now
09/24/2019
$12,500,000
Sold and Closed by Thomas A. Donovan
B6 Real Estate Advisors
03/26/2019
$17,750,000
Initial Price by Thomas A. Donovan
B6 Real Estate Advisors

Building Details for 47-46 40th Street

OwnershipIncome Property
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessElevator
Year Built1939
Floors/Apts6/55
Learn More About the Building

Transit and Citi Bike

Subway

40 St-Lowery St
0.24 miles
46 St-Bliss St
0.4 miles
33 St-Rawson St
0.42 miles

Citi Bike

48 Ave & 41 St
0.07 miles
39 St & 47 Ave
0.15 miles

Contact Agents

Contact Agents

Thomas Donovan
B6 Real Estate Advisors
Eugene Kim
B6 Real Estate Advisors
Tommy Lin
B6 Real Estate Advisors

Sunnyside | Queens

Quick Profile

Sunnyside is an affordable neighborhood that offers a unique blend of big-city living with a friendly small-town feel. Some residents consider it one of the best kept secrets in New York City. Located just 20 minutes from Midtown Manhattan by subway, the neighborhood looks like a different era due to the prewar apartment buildings, row houses and smaller mom-and-pop businesses that populate much of the business districts.

Sunnyside is an intriguing place to explore. It’s situated in the western portion of Queens. The boundaries of this mostly residential neighborhood are Long Island City to the west, Astoria to the north, Woodside to the east, and Maspeth to the south.  

Once a rural hamlet of small farms and marshlands, the area transformed into a flourishing suburb shortly after the construction of the Queensboro Bridge (currently known as the Ed Koch Queensboro Bridge) in 1909. Sunnyside was an Irish-American stronghold for decades. Although this demographic is still very much a part of the neighborhood’s identity, it has become increasingly diverse in recent years.

You can eat around the world without ever getting on an airplane. Like many sections of Queens, Sunnyside has notable food spots representing cuisine from Tibet, Mexico, Italy, Japan, and Middle Eastern countries too. If you’re too busy to wander Sunnyside in search of the best international food, then hold off until the fall when the neighborhood rolls out the Taste of Sunnyside Restaurant Crawl. An annual event that features the very best of the diverse flavors of Sunnyside. Come hungry because there is no shortage of good food and drink from around the globe.

Sunnyside’s housing options include a large stock of rentals, co-op’s, single-family and multi-family homes. The average listed price is $479,000, while the median listed price is $425,000. Businesses in Sunnyside are generally located along Queens Boulevard and Skillman, 43rd, 47th, 48th, and Greenpoint Avenues.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 75613TH