Renovated Apartment with Waterfront
For Sale
$259,888
Pending
162-21 Powells Cove Blvd 1M, Queens, NY 11357
Renovated 1BR apartment with amenities and convenient transportation options.
Property Size882 SF
Days on Market316
Property Features for 162-21 Powells Cove Blvd 1M
General Information
Standard status
Pending
Size
882 SF
Property subtype
Residential
Building Details
Building Size
882 SF
Year Built
1950
Listed By:
Robert J. Gellert SRES
(914) 215-4307
Source:
Elliman
Added: Nov 27, 2025
Changed: Sep 25
Last Checked: Oct 7 at 12:34PM
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 Robert J. Gellert SRES
Investment Insights
Based on property information with market context.
This renovated one-bedroom, one-bathroom apartment has been exceptionally well maintained. The open-concept kitchen features wood cabinetry, stainless steel appliances, and a breakfast bar that separates it from the living area. Wood floors flow throughout the home, which benefits from ample light and air, as well as generous closet space. Residents of Cryder Point enjoy amenities such as a lobby concierge and package room, an outdoor pool, a waterfront promenade and fishing dock, two community rooms, storage, and a playground. The property is within walking distance of the local Q15 bus to Flushing and the express QM2 bus to Manhattan. It is also a 10-minute drive to the Long Island Rail Road (LIRR) in Bayside.
Key Highlights
- Move‑in ready, renovated 1BR/1BA.
- Open concept kitchen featuring stainless steel appliances and a breakfast bar.
- Enjoy Cryder Point amenities: outdoor pool, waterfront promenade, concierge, and more.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,560
Cap Rate
8.30%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$431,200
$431.2K
Cap Rate 7%
$308,000
$308.0K
Cap Rate 9%
$239,556
$239.6K
Market Conditions
NOI Build-Up for 882 SF
Gross rent
$40.7K $46.20/SF
− Vacancy
−$1.5K −$1.76/SF
EGI
$39.2K $44.44/SF
− OpEx
−$17.6K −$20.00/SF
NOI
$21.6K $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%
$431,200
Cap Rate 7%
$308,000
Cap Rate 9%
$239,556
Alternative Uses
Best Use
Apartment 5plus
$308.0K
$269.5K – $359.3K
NOI $21,560 @ 7.0% cap · market cap 8.30%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$650.2K
$568.9K – $758.6K
NOI $45,515 @ 7.0% cap · market cap 17.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
1,607
Businesses Nearby
Explore this area
Business Placement
Demographics for 11357, NY
42,319
Population
16,586
Households
2.6
Avg Household Size
46
Median Age
38%
College-Educated
86%
High-School Grad
2.8 sq mi
ZIP Area
15,114
Density / Sq Mi
$97,754
Median Household Income
$58,814
Median Earnings
$2,228
Median Rent
$920,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Renovated 1BR apartment with amenities and convenient transportation options.
Where is this apartment building located?
The property is located at 162-21 Powells Cove Blvd 1M Queens, NY.
What is the asking price?
The asking price for this property is $259,888.
What are key features of this property?
This property features: Move‑in ready, renovated 1BR/1BA.; Open concept kitchen featuring stainless steel appliances and a breakfast bar.; Enjoy Cryder Point amenities: outdoor pool, waterfront promenade, concierge, and more.
