Luxury High Rise Corner
For Sale
$658,000
Pending
18-15 215th St 6 M, Long Island City, NY 11360
Luxury high-rise with lake views, amenities, and convenient location.
Property Size1,500 SF
Days on Market316
Property Features for 18-15 215th St 6 M
General Information
Standard status
Pending
Size
1,500 SF
Property subtype
Residential
Building Details
Building Size
1,500 SF
Year Built
1970
Listed By:
Grace Schehr
(917) 642-2119
Source:
Elliman
Added: Nov 27, 2025
Changed: Oct 6
Last Checked: Oct 7 at 1:24PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Grace Schehr
Investment Insights
Based on property information with market context.
This luxury high-rise building offers bridge and lake views, including sunset views, from a corner unit. The 1500 sq ft apartment features 3 bedrooms, an extended kitchen, 2 baths, a dining room, a living room, and 2 terraces. It includes hardwood floors and 2 walk-in closets. Residents benefit from 24-hour doorman/security, a gym, tennis/pickle ball courts, a heated swimming pool, and an indoor garage. The location is convenient to shopping and transportation, with top-rated schools nearby. A shopping arcade within the complex includes a beauty salon, dry cleaner/tailor, deli/grocery store, and card/game room. Maintenance fees of $2,600 cover gas, electricity, heat, central A/C, real estate taxes, and water. Parking is available in the garage for $180 monthly per spot. A special Spectrum package is available for cable and internet at $70 per month. The apartment is located in The Towers of Waters Edge Complex, close to the Bay Terrace Shopping Center, 2 blocks from express buses to Manhattan and local buses, and close to the Bayside LIRR Station.
Key Highlights
- Luxury high‑rise corner unit with bridge and lake views, including gorgeous sunset views.
- Comprehensive maintenance package ($2,600) covering gas, electric, heat, central A/C, real estate taxes, and water.
- Enjoy 24‑hour doorman/security, gym, tennis/pickle ball court, and heated swimming pool.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,667
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$733,340
$733.3K
Cap Rate 7%
$523,814
$523.8K
Cap Rate 9%
$407,411
$407.4K
Market Conditions
NOI Build-Up for 1,500 SF
Gross rent
$69.3K $46.20/SF
− Vacancy
−$2.6K −$1.76/SF
EGI
$66.7K $44.44/SF
− OpEx
−$30.0K −$20.00/SF
NOI
$36.7K $24.44/SF
Area
Queens County, NY
Vacancy
3.80%
Lease Rate
$46.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$733,340
Cap Rate 7%
$523,814
Cap Rate 9%
$407,411
Alternative Uses
Best Use
Apartment 5plus
$523.8K
$458.3K – $611.1K
NOI $36,667 @ 7.0% cap · market cap 5.57%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.11M
$967.6K – $1.29M
NOI $77,407 @ 7.0% cap · market cap 11.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
797
Businesses Nearby
Explore this area
Business Placement
Demographics for 11360, NY
20,039
Population
9,874
Households
2
Avg Household Size
52
Median Age
49%
College-Educated
87%
High-School Grad
1.4 sq mi
ZIP Area
14,314
Density / Sq Mi
$100,250
Median Household Income
$67,810
Median Earnings
$2,329
Median Rent
$692,600
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Luxury high-rise with lake views, amenities, and convenient location.
Where is this apartment building located?
The property is located at 18-15 215th St 6 M Long Island City, NY.
What is the asking price?
The asking price for this property is $658,000.
What are key features of this property?
This property features: Luxury high‑rise corner unit with bridge and lake views, including gorgeous sunset views.; Comprehensive maintenance package ($2,600) covering gas, electric, heat, central A/C, real estate taxes, and water.; Enjoy 24‑hour doorman/security, gym, tennis/pickle ball court, and heated swimming pool.
