Welcome to Long Island City's 5-39 51st Avenue! A USER-OWNER's dream property!This beautiful all-brick Multifamily Townhome was completely gut renovated in 2008. FIFTY FIRST AVENUE is one of LIC's most desirable blocks to live. There are three (3) apartments; the first floor duplex apartment has a unique sweeping layout, 1,429 ft2 of interior living space with three bedrooms and two bathrooms, separate living and dining rooms and 1,211 ft2 private lounge area.

The second and third floor apartments are approximately 722 ft2 each; identical two-bedrooms, one-bathroom, living room and kitchen layout.All apartments have split-unit HVACs, separate washer/ dryer and dishwasher appliances in- unit and are wired for Verizon Fios.

Investors: Three free-market apartments with effective $116,200 NOI and room for growth.

There is significant upside; develop the entire 4,000 ft2. See just a few options below:

Live in the spacious duplex residence while capturing market rate rental income from both two-bedroom apartments.

-District Special Zoning: M1-4/R6B Develop the 2,050 ft2 of UNUSED propertyair rights (buildable square footage) increasing building and apartment sizes nearly double the current floor plate.

-Reposition the first floor duplex to a Doctor or Attorney office, and or duplex the third floor apartment, etc.-Please consult your Architect to understand and design what is within reach!

FIFTY FIRST AVENUE is one of LIC's most desirable blocks to live, our neighbors include MOGMOG Japanese Market, HUPO Chinese Cuisine, Cafe 51, PlayDay and Urban Market grocer. It is only a few minutes'walk to thewaterfront;LIC Landing,Gantry Plaza State Park, and the NYC Ferry system at Hunters Point South and Anable Basin, walkways, playgrounds, and fishing piers, along with NYC's newest Hunter's Point Library.

5-39 51st Avenue, Queens, NY, 11101

BLOCK: 33 LOT: 9

District M1-4/R6B

Multifamily Co/O Three Apartments:

1-Duplex Apartment Two bathrooms and three bedrooms withcomplete backyard 1200 ft2 patio space.

2-Two-Bedroom/1-Bathroom

2.00 for residential FAR Lot Size: 20 x 100 Built FAR: 0.98

Building: Frontage: 20ft Depth: 35ft

Air-Rights:

4,000 ft2 maximum floor area

Area of Existing Building: 1,950 ft2

**2,050 ft2 UNUSED Development Area


Contact theexclusive broker for additional information.

Property Details of 5-39 51st Avenue, Unit Building

Property Details

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Listed by Eric Mills of R New York

Based on information submitted to REBNY as of August 10, 2022 9:51 PM EDT . All data is deemed reliable but is not guaranteed accurate by the MLS. All information should be independently reviewed and verified for accuracy. IDX information is provided exclusively for consumers’ personal, noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

 
 

 

 

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