27-05 41st Ave - Apartments FOR SALE


Long Island City, NY 11101- LIC
$30,000,000 USD
917-865-6537
27-05 41st Ave, Long Island City, NY for Sale
$30,000,000 USD
Apartments - FOR SALE
1/14
null | 5.22% Cap Rate

27-05 41st Ave
Long Island City, NY 11101
LIC


HIGHLIGHTS

  • Proximity to multiple subway lines
  • All units have windows and balconies/terraces

OVERVIEW

East Coast New York Inc. is proud to present a prime investment opportunity at 27-05 41st Avenue, Long Island City, NY 11101. This ±41,342 SF, six-story mixed-use building sits on a ±10,020 SF corner lot at the intersection of 41st Avenue and 27th Street, commanding a highly visible position in the heart of one of New York City's fastest-growing neighborhoods. The property features 36 free-market residential units spanning ±23,885 SF, complemented by 5 street-level storefronts totaling ±7,226 SF and a 22-space underground parking garage, delivering a diversified and stabilized income stream. The commercial units are secured by leases extending as far as 2030, with built-in 3% annual rent increases, while the residential component provides consistent, high-demand rental income throughout the building. The location benefits from exceptional transit connectivity, with immediate access to the 7, N, W, E, M, and R subway lines and a 10-minute commute to Midtown Manhattan, positioning the asset between the vibrant dining and nightlife corridors of Astoria and Long Island City. Built in 2015 and benefiting from significant long-term tax incentives, a 15-year 421-A abatement on the residential and parking components and a 25-year ICAP abatement on the retail portion, this asset represents a rare opportunity for investors seeking a modern, well-maintained mixed-use property with strong in-place income, built-in tax savings, and long-term upside potential.

FOR SALE DETAILS

PRICE

$30,000,000 USD

PRICE/SF

$574 USD /SF

# OF UNITS

41

PRICE/UNIT

$731,707

CAP RATE

5.22%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

River Bridge Tower

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

6

YEAR BUILT

2015

PARKING SPACES

22

LAND DETAILS

LAND ACRES

0.24 AC

LAND SF

10,454 SF

ZONING

M1-2/ R6A

APN/PARCEL ID

00405-1001

ASK ABOUT THIS PROPERTY

Eric LiEast Coast New YorkMore Info
917-865-6537

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Eric LiEast Coast New YorkMore Info
917-865-6537

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.