Spacious Coop in Rego
For Sale
$481,000
Pending
61-15 98 St 8K, Queens, NY 11374
Two-bedroom coop with balcony, close to shopping and transportation.
Property Size1,200 SF
Days on Market314
Property Features for 61-15 98 St 8K
General Information
Standard status
Pending
Size
1,200 SF
Property subtype
Residential
Building Details
Building Size
1,200 SF
Year Built
1960
Listed By:
Sonia Mirilashvila
(786) 285-0888
Source:
Elliman
Added: Nov 28, 2025
Changed: Oct 6
Last Checked: Oct 7 at 1:15PM
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 Sonia Mirilashvila
Investment Insights
Based on property information with market context.
This 2-bedroom, 1.5-bathroom coop is located in Rego Park. The corner apartment offers 1200 sq ft of living space and features 11 ft ceilings. The unit includes a spacious living room and two large bedrooms, one with a master suite bathroom. An East-facing balcony provides morning sunlight and unobstructed views. The unit also features basement laundry. Bedroom windows offer views of the rotunda. Schools and playgrounds are located across the street, and easy highway access facilitates commuting. The property is close to Costco, Aldi, Foodtown, Rego Center, and Queens Center Mall, with subway stations located blocks away. The complex provides gated security. Gas, water, and sewer are included in the maintenance. Brand new elevators have been installed for added convenience. Residents have access to a swimming pool during the summertime.
Key Highlights
- Spacious 2‑bedroom, 1.5‑bathroom corner apartment with 1200 sq ft of living space and 11 ft. ceilings.
- Enjoy morning sunlight and unobstructed views from the east‑facing balcony.
- Prime location: close to shopping, subway stations, schools, and playgrounds.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,333
Cap Rate
6.10%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$586,660
$586.7K
Cap Rate 7%
$419,043
$419.0K
Cap Rate 9%
$325,922
$325.9K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$55.4K $46.20/SF
− Vacancy
−$2.1K −$1.76/SF
EGI
$53.3K $44.44/SF
− OpEx
−$24.0K −$20.00/SF
NOI
$29.3K $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%
$586,660
Cap Rate 7%
$419,043
Cap Rate 9%
$325,922
Alternative Uses
Best Use
Apartment 5plus
$419.0K
$366.7K – $488.9K
NOI $29,333 @ 7.0% cap · market cap 6.10%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$884.7K
$774.1K – $1.03M
NOI $61,926 @ 7.0% cap · market cap 12.87%
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
5,009
Businesses Nearby
Explore this area
Business Placement
Demographics for 11374, NY
47,129
Population
21,197
Households
2.2
Avg Household Size
43
Median Age
51%
College-Educated
90%
High-School Grad
0.9 sq mi
ZIP Area
52,366
Density / Sq Mi
$86,333
Median Household Income
$58,309
Median Earnings
$1,957
Median Rent
$484,500
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 - Two-bedroom coop with balcony, close to shopping and transportation.
Where is this apartment building located?
The property is located at 61-15 98 St 8K Queens, NY.
What is the asking price?
The asking price for this property is $481,000.
What are key features of this property?
This property features: Spacious 2‑bedroom, 1.5‑bathroom corner apartment with 1200 sq ft of living space and 11 ft. ceilings.; Enjoy morning sunlight and unobstructed views from the east‑facing balcony.; Prime location: close to shopping, subway stations, schools, and playgrounds.
