38-61 12th Street

Long Island City, Queens | 38th Ave & 40th Ave

Commercial

$35,000,000

floors11

Building TypeMid-Rise

Building Amenities

Elevator

Property Description for 38-61 12th Street

A Commercial Hospitality/Hotel Building for Sale in Long Island City. Prime investment opportunity in the heart of Long Island City! 38-59 to 38-61 12th Street presents a rare chance to acquire a fully operating hospitality asset featuring 152 guest rooms in one of New York City’s fastest-growing commercial corridors. Strategically positioned near major transportation, Midtown Manhattan access, and the thriving LIC waterfront district, this property benefits from strong visibility and consistent demand from both business and leisure travelers. The property is currently subject to a 3-year lease, providing immediate income stability and operational continuity for investors seeking a turnkey commercial asset. The building offers substantial scale, excellent accessibility, and strong long-term upside potential in a rapidly evolving neighborhood surrounded by new developments, office hubs, residential towers, and dining destinations. Ideal for investors, hospitality operators, or portfolio expansion, this offering combines dependable cash flow with future appreciation potential in one of Queens’ most dynamic submarkets. Conveniently located near multiple subway lines, major highways, and LaGuardia Airport and JFK Airport, this is a unique opportunity to secure a significant hospitality property in Long Island City. For more information on this investment property, please contact the listing agent.

Listing History for 38-61 12th Street

Now

05/29/2026

$35,000,000

Initial Price by Zahra Joudi

Compass

Launch

Building Details for 38-61 12th Street

OwnershipCommercial

Building TypeMid-Rise

AgePost-War

AccessElevator

Year Built2013

Floors11

Learn More About the Building

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: 106498TH

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