54-07 Roosevelt Ave - Apartments FOR SALE


Woodside, NY 11377
$2,200,000 USD
917-825-3630
54-07 Roosevelt Ave, Woodside, NY for Sale
$2,200,000 USD
Apartments - FOR SALE
1/9
null | Request Cap Rate

54-07 Roosevelt Ave
Woodside, NY 11377


HIGHLIGHTS

  • Fully Occupied
  • Long-Term Medical Tenant (Leased through January 2034)
  • Botique Luxury Finishes
  • Located on Roosevelt Avenue, steps from the 52nd Street Station
  • Tax Class Protected (Tax Class 1 - $7,888)

OVERVIEW

Cushman & Wakefield is pleased to present to market The Sophie, located at 54-07 Roosevelt Avenue, a boutique three-story mixed-use building located in the vibrant Woodside neighborhood of Queens. The property comprises four residential units and one commercial unit, totaling approximately 4,216 gross square feet (17' x 62') on a 1,216 square foot lot (19' x 64'), and benefits from a low tax burden of $7,888 for tax year 2026/2027 — further protected by its Tax Class 1 designation, which caps assessed value increases at 6% annually and 20% over any five-year period, providing ownership with a meaningful, long-term shield against rising tax exposure. The residential units feature elegant condo-quality finishes with Italian-made cabinetry, oak flooring, and Carrara marble-inspired bathrooms — offering a boutique luxury loft aesthetic rarely found in this submarket. The unit mix consists of two studios and two one-bedroom, one-bathroom apartments, catering to the neighborhood's strong commuter demand. The ground-floor commercial space is occupied by Blu Point Health, a medical care and wellness services tenant, paying currently paying $5,665 in monthly base rent (at fixed annual increases) plus property tax recoveries equal to 50% of the increase over the 2024/2025 base year. The lease runs through January 2034, providing ownership with a long-term, stable income anchor. The property's positioning along Roosevelt Avenue places it steps from the 52nd Street station serving the 7 train, offering residents direct and seamless access to Midtown Manhattan. Woodside is one of Queens' most well-connected and sought-after residential neighborhoods, characterized by tree-lined blocks, a thriving local dining and retail scene, and a strong sense of community that continues to attract a diverse and growing renter base. The Property also stands to benefit from its location within the heart of Western Queens, where several of New York City's most significant redevelopment initiatives are underway or planned, including the recently approved OneLIC Neighborhood Plan, the transformative redevelopment of Willets Point, and the long-term vision for Sunnyside Yards, a potential $21 billion mixed-use neighborhood planned above the adjacent Amtrak rail yard. This offering represents a rare opportunity to acquire a fully occupied, income-producing boutique asset with luxury residential finishes and a long-term commercial anchor in one of Queens' most dynamic neighborhoods. Please direct all inquiries to Cushman & Wakefield.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$522 USD /SF

# OF UNITS

2

PRICE/UNIT

$1,100,000

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Sophie

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1928

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.03 AC

LAND SF

1,307 SF

ZONING

R6; C1-4

APN/PARCEL ID

01317-0073

ASK ABOUT THIS PROPERTY

Jeremy SternCushman & WakefieldMore Info
917-825-3630

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Jeremy SternCushman & WakefieldMore Info
917-825-3630

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