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    New Construction Multifamily in Corona

    54-14 111th Street Corona, NY 11368

    Claim this Listing
    For Sale
    $3,950,000

    MULTI_FAMILY - Corona, NY

    Property size:
    8,652 SF
    Lot size:
    0.09 Acres
    Price / SF:
    $456.54/SF
    Added:
    Sep 15, 2025
    Days on Market:
    302
    Last Refresh:
    Jul 13 at 9:06 pm

    Property Features for 54-14 111th Street

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    R6B
    Bedrooms
    16
    Bathrooms
    8
    Rooms
    Bedroom 5, Bathroom 3, Bedroom 12, Bathroom 6, Bathroom 8, Bedroom 2, Bedroom 7, Bathroom 1, Bedroom 15, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 14, Bathroom 7, Bedroom 16, Bedroom 3, Bedroom 6, Bedroom 13, Bathroom 5, Bedroom 9, Bedroom 11, Bedroom 8, Bathroom 4, Bedroom 10
    Interior features
    Refrigerator, Stove
    Basement
    Finished
    Standard status
    Active
    Size
    8,652 SF
    Lot size
    0.09 Acres

    Taxes and HOA fees

    Tax Annual Amount
    3095

    Building Details

    Year built
    2013
    Floors in Building
    5
    Number of units
    8
    Flooring type
    Tile, Hardwood
    Building materials
    Brick
    Roof type
    Flat

    Listing agent XueYan (Maggie) LI

    Listing office Tiger Realty 1484 86th Street, Brooklyn, NY

    Listing date Sep 15, 2025

    MLS# 495771 Listing URL

    Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Investment Insights

    Based on property information with market context.

    This new construction building in Corona, Queens, features eight units. Each apartment contains four rooms and two bedrooms, and includes a private balcony. The building has separate boilers and water heaters for each unit. All units are currently under a one-year lease. A private driveway leads to a detached four-car garage, which is rented for $600 monthly, plus one carport rented for $100 monthly. The gross yearly income is $231,000, with net yearly income at $217,433, representing a competitive cap rate close to 5.5%. The property benefits from a property tax abatement that will remain in effect for the next twelve years. The lot size is 0.0859 acres and the property size is 8652 square feet. The zoning is R6B.

    Key Highlights

    • New construction 8‑unit brick building built in 2013 with flat roof
    • Two 4‑room, 2‑bedroom units per floor/section, with private balcony for every unit
    • Each unit has separate boilers and water heaters, plus refrigerator and stove

    Local Financial Insights For Apartment 5plus

    Simulate Cap Rate and NOI

    NOI Build-Up
    Vacancy
    income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
    EGI (Effective Gross Income)
    gross rent minus vacancy losses — the realistic income before paying operating costs.
    OpEx (Operating Expenses)
    recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
    NOI (Net Operating Income)
    income a property generates after operating costs but before financing and taxes.

    Component $ $/SF
    Gross rent $399.7k $46.20
    − Vacancy −$15.2k −$1.76
    EGI $384.5k $44.44
    − OpEx −$173.0k −$20.00
    NOI $211.5k $24.44
    8,652 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%

    Alternative Uses

    Best Use
    Apartment 5plus
    $3.02M
    $2.64M – $3.52M (±1% cap)
    NOI $211,493 @ 7.0% cap · market cap 5.35%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $6.38M
    $5.58M – $7.44M (±1% cap)
    NOI $446,485 @ 7.0% cap · market cap 11.30%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Law Firm Dental Office Real Estate Agency Parking Lot & Garage Acupuncture Travel Agency (Bike/Boat/Book/etc) Store Catering Service Computer & Electronic Repair (Bike/Boat/Book/etc) Store

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Apartment building - New construction eight-unit building in Corona, Queens with strong income.
    Where is this apartment building located?
    The property is located at 54-14 111th Street Corona, NY.
    What is the asking price?
    The asking price for this property is $3,950,000.
    What are key features of this property?
    This property features: New construction 8‑unit brick building built in 2013 with flat roof; Two 4‑room, 2‑bedroom units per floor/section, with private balcony for every unit; Each unit has separate boilers and water heaters, plus refrigerator and stove
    Contact an agent
    (917) 708-9966
    We can help!
    Contact an agent
    XueYan (Maggie) LI
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