Updated 9 years ago
Sold
23-16 45th Ave
Court Square, Queens | 23rd Street & Jackson Ave
6 Rooms4 Beds3 Baths4,150 Square FeetMulti-Family
$5,129,162 $5,129,161
floors / apts3 / 3
Lot Size25'x74'4"
Built Size25'x50'
ZoneC5-3
Building TypeTownhouse
RE Taxes$2,836
Price Per SF
$1,236
This property was sold for $5,129,162 on 03/21/17.
Building Amenities
- Voice Intercom
- Gated Entry
- Outdoor Parking
Property Description for 23-16 45th Ave
The Court Square Assemblage; this property represents ONE of the seven lots boasting substantial air rights in the Court Square sub-district of Long Island City, comprising the assemblage. The properties are located across the street from the Citi Building and block off of Jackson Avenue in the heart of Long Island City.THE ASSEMBLAGE: A minimum of 10,000 square feet of land triggers a bonus within the C5-3 district allowing for an F.A.R. of 15.0 for mixed - use development. The Court Square Assemblage, with a total footprint of 11,145.2 square feet, has 167,178 as - of - right buildable square feet. An additional 20% F.A.R. bonus can be awarded through the addition of a pedestrian plaza. Possible uses include, but are not limited to residential, retail, office and hotel.THE LOCATION: The Court Square Assemblage is in one of the most valuable locations in Western Queens. Local neighbors include Citibank, Metlife, Barclays, HSBC, JetBlue, Silvercup Studios, CUNY Law and over 10,000 new and in-progress luxury housing units. Transit options are amongst the best in New York City, as both Manhattan and Brooklyn are only stops away from the seven nearby subway lines (E, M, G, N, R, Q & 7), four of which (E, M, G, & 7) have station locations less than one block away. Road access to the rest of the city and beyond is served by The Queensboro Bridge, The Midtown Tunnel, The Brooklyn - Queens Expressway, The Long Island Expressway and The Pulaski Bridge, amongst others.THE VALUE: Demand for luxury residential, local retail, and high end office space continues to be at record levels. Local residential values have topped $55 per square foot for rentals and $1,000 per square foot for condominium sales. Retail rates have exceeded $65 per square foot in the immediate vicinity and class A office space can rent for more than $40 per square foot.THE OPPORTUNITY: As land is becoming more and more scarce, demand continues to rise from both developers and end users of all asset classes. The Court Square Assemblage offers a developer the opportunity to join the fastest growing neighborhood in New York City with a substantial project on one of the best blocks in town.
Listing History for 23-16 45th Ave
Now
03/28/2017
Price Increase by Andrew Mapp
Corcoran
03/27/2017
$5,129,161 [-$491,677] [8.7%]
Price Drop by Andrew Mapp
Corcoran
Building Details for 23-16 45th Ave
OwnershipMulti-Family
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1911
Floors/Apts3/3
Transit and Citi Bike
Subway
Court Sq
0.04 miles
Court Sq-23 St
0.11 miles
21 St
0.31 miles
Queensboro Plaza
0.36 miles
Hunters Point Av
0.37 miles
Railroad
Hunterspoint AvenueLong Island Rail Road
0.31 miles
Citi Bike
Davis St & Jackson Ave
0.08 miles
44 Dr & Jackson Ave
0.09 miles
Court Square | Queens
Quick Profile
Not that long-ago Court Square was an industrial zone near the Ed Koch / Queensboro Bridge. It was populated by manufacturing warehouses, lumber mills, dive bars and hole in the wall restaurants. Rumbling trains moving along the elevated tracks above added to the grittiness of the neighborhood. Despite its industrial past, it’s seen its share of major growth in recent years especially when it comes to residential construction.
Court Square is a triangular shaped pocket neighborhood of Long Island City and it is bounded by 21st Street to the west, Skillman Avenue to the east, 44th Drive and Thomson Avenue to the north and 49th Avenue to the south.
Its history feels a whole lot simpler compared to some of the other neighborhoods in Queens. Court Square is named after the historic Queens County Courthouse. Built in 1874 the court has tried some of the most important criminal cases in New York. Made out of brick and granite, the two-and-a-half story building was officially designated a landmark in 1976.
Modern day Court Square is a vibrant neighborhood offering a healthy mix of brownstones, contemporary commercial buildings and modern residential buildings of varying sizes. The cool factor may not be at the same levels as select Brooklyn or Manhattan neighborhoods, but Court Square is quickly catching up. Art galleries, breweries, hip eateries, bookstores, and sustainable parks are defining the nabe and drawing in new residents.
You can’t write about Court Square and Long Island City without mentioning the Amazon debacle that went down on Valentine’s Day 2019. Drama ensued when the company withdrew their Headquarters 2 offer at One Court Square. The 50-story building was close to becoming the second headquarters for the American tech giant but the deal fell through. Amazon and New York’s Governor Cuomo, just couldn’t work out the fine details of the deal that included tax breaks and incentives. The heavily politicized event eventually collapsed.
The median listed price for a 1-bedroom in Court Square is $1,188,287 with an average price per square foot is $1,544.
The neighborhood has a fantastic transportation hub. Busses, LIRR Trains, and major roadways are easily accessed from Court Square and Long Island City. 7, E, G and M trains are located at the Court Square-23 Street station. And the N, Q , W and 7 trains are located at the Queensboro Plaza station.
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: 53891TH
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