The subject offering consists of a 2,393-square-foot retail condominium located on the corner of 47th Road and 5th Street in Long Island City (Queens). The unit sits at the base of a five-story, nine-unit boutique condominium building that was constructed brand-new in 2023. The property is fully occupied and leased to Fred Astaire Dance Studios on a ten-year lease that runs through January 31, 2034. The tenant has three percent annual increases. Theyare responsible for paying 100 percent of the Condo Maintenance Fees, and 100 percent of the real estate taxes above their base-year of 2024/2025 (base year taxes were $10,725).