Updated 3 years ago
Off Market
47-08 11th Street
Long Island City, Queens | 47th Ave & 47th Road
10 Rooms4 Beds3 Baths4,000 Square FeetMulti-Family
$2,750,000 $2,950,000
floors / apts3 / 3
Lot Size20'x100'
Built Size20'x50'
ZoneM1-4
Building TypeTownhouse
RE Taxes$8,914
Price Per SF
$688
Outdoor space and views
- Backyard [19'x19']
- Garden [19'x29']
Building Amenities
- Voice Intercom
- Garden
- Stoop Entry
Property Description for 47-08 11th Street
Introducing 47-08 11th Street, a remarkable 3-unit multi-family building with a captivating garden, making it an irresistible opportunity for investors and developers alike. Situated in prime Long Island City, just a single subway stop away from Manhattan, this property boasts an all-residential zoning (M1-4/R7a/LIC), offering the potential for a lucrative rental income property or a remarkable condo conversion. With approximately 4,000 interior square feet and 920 exterior square feet, this building rests on a spacious lot measuring 20 × 100 ft, while the building itself spans 20 × 50 ft.
Prepare to be amazed, as all three occupied apartments have recently undergone stunning renovations, breathing new life into each unit. Additionally, the roof has been expertly rubberized, and the basement has been thoughtfully built out, adding further value to this exceptional property. Currently generating annual non-stabilized rent roll income, it is important to note that the existing rents are well below market rate, leaving room for significant upside potential. With the ability to command at least $3,000 or more per unit annually, this property promises an enticing return on investment.
Conveniently located just one minute from the train station and positioned steps away from Long Island City’s finest dining and the iconic east river, this is undeniably the best investment or development opportunity currently available. Don't miss out on this incredible chance to own a property that combines excellent rental potential with a prime location. This trophy property can also be converted into a luxurious one or two family townhome. Contact us now to secure your private showing and embark on an exciting journey into the world of real estate investment and development.
Listing History for 47-08 11th Street
Now
10/19/2023
$2,750,000 [-$200,000] [6.8%]
Price Drop by Shira Bilfeld
Serhant LLC
07/28/2023
$2,950,000
Initial Price by Shira Bilfeld
Serhant LLC
Building Details for 47-08 11th Street
OwnershipMulti-Family
Building TypeTownhouse
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Year Built1891
Floors/Apts3/3
Transit and Citi Bike
Subway
21 St
0.09 miles
Vernon Blvd-Jackson Av
0.2 miles
Hunters Point Av
0.22 miles
Court Sq-23 St
0.34 miles
Court Sq
0.35 miles
Railroad
Hunterspoint AvenueLong Island Rail Road
0.29 miles
Long Island CityLong Island Rail Road
0.41 miles
Citi Bike
46 Rd & 11 St
0.07 miles
Vernon Blvd & 47 Rd
0.12 miles
Ferry
Long Island City
0.42 miles
Long Island City | Queens
Quick Profile
Long Island City, the name does sound a little far away, like it requires a lengthy drive to get to. Think, again. Long Island City, also known as LIC, is nestled in the western corner of Queens along the East River. Midtown Manhattan is closer to Long Island City than it is to downtown Manhattan.
LIC is bordered by Sunnyside to the east, the East River to the west, Astoria to the north, and Newton Creek which separates Queens from Greenpoint Brooklyn to the south.
A once-shabby manufacturing epicenter, the neighborhood is a mix of industrial, commercial and residential. In recent years it’s seen a rise in some seriously cool factors. Populated by young professionals, multi-ethnic immigrants, and hipsters, LIC has a happening nightlife scene, fantastic restaurants (some of them Michelin starred), art museums and galleries. Much of the waterfront access has been redeveloped into sustainable public green spaces with modern design.
Although much of the industrial / manufacturing companies have since left LIC, many still reside there. They tend to co-exist with new residential building development the same way they do in other neighborhoods like Williamsburg and Greenpoint.
Office building developers and business tenants play a vital role in LIC too. It’s considered New York City’s fourth central business district next to Midtown, downtown Manhattan and downtown Brooklyn.
As you traverse the streets of LIC, you’ll notice the change from block to block. Industrial warehouses on one block, a bustling Main Street, followed by a park block with sleek luxury high-rise buildings. It’s all part of the LIC vibe.
For a small neighborhood, the transportation links are excellent. For starters, you just can’t beat living one subway stop from Manhattan (7 train). Other train lines include E, M, R, N, Q, and the G lines. There are also less conventional methods of transportation like the NYC Ferry, which offers three ferry landings. There is no shortage of CitiBike’s in LIC either. Many folks commute to work by way of cycling over the Queensboro Bridge.
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: 58878TH
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