Mid-Rise 6-Unit Apartment
17-17 Madison Street, Queens, NY 11385
- Added:
- Dec 17, 2025
- Days on Market:
- 203
- Last Refresh:
- Jul 8 at 4:06 pm
Property Features for 17-17 Madison Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Bedrooms
- 12
- Bathrooms
- 6
- Rooms
- Bedroom 7, Bedroom 5, Bathroom 6, Bedroom 6, Bedroom 10, Bathroom 5, Bedroom 1, Bathroom 4, Bedroom 8, Bedroom 3, Bedroom 2, Bedroom 9, Bathroom 2, Bathroom 3, Bedroom 12, Bathroom 1, Bedroom 4, Bedroom 11
- Standard status
- Active
Building Details
- Architectural style
- Other
Listing agent Cassandra Frank
Listing office Compass 3rd floor 90 Fifth Avenue, 3rd Floor, New York, NY (646) 982-0353
Listing date Dec 17, 2025
MLS# 11620055
Copyright © 2026 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- 5,600 sq. ft. mid‑rise multi‑family building at 17‑17 Madison St in Ridgewood
- Six floor‑through apartments with 4 free market units and 2 rent‑stabilized units
- Walk‑up design with privacy in each unit
- Gas heating, with optional window AC
- Full basement for storage or additional functionality
Overview
This mid-rise, walk-up multifamily building at 17-17 Madison Street contains 6 floor-through apartments across its floors. The property is configured with 4 units identified as free market and 2 units identified as rent stabilized. Each unit’s floor-through layout is designed to provide privacy within the apartments, while gas heating supports year-round comfort. Depending on tenant preference, window AC is available as an option. A full basement is included and can be used for storage or other functional needs as permitted by applicable building and local requirements.
The building is presented for sale with easy access to Queens’ surrounding areas, and it is described as being located in Ridgewood. The property’s mid-rise form and walk-up design reflect a compact, residential income building profile in this part of Queens.
For buyers or operators seeking a small, manageable income asset, the mix of free market and rent stabilized units may support a diversified tenant base within a single structure. Prospective tenants or managing parties should plan for a walk-up living experience and account for heating being gas-based, along with the optional use of window air conditioning. A private showing is recommended to review the interiors and assess how the basement space can best support day-to-day operations.
The building is presented for sale with easy access to Queens’ surrounding areas, and it is described as being located in Ridgewood. The property’s mid-rise form and walk-up design reflect a compact, residential income building profile in this part of Queens.
For buyers or operators seeking a small, manageable income asset, the mix of free market and rent stabilized units may support a diversified tenant base within a single structure. Prospective tenants or managing parties should plan for a walk-up living experience and account for heating being gas-based, along with the optional use of window air conditioning. A private showing is recommended to review the interiors and assess how the basement space can best support day-to-day operations.
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 | $258.7k | $46.20 |
| − Vacancy | −$9.8k | −$1.76 |
| EGI | $248.9k | $44.44 |
| − OpEx | −$112.0k | −$20.00 |
| NOI | $136.9k | $24.44 |
5,600 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.96M
$1.71M – $2.28M
NOI $136,889 @ 7.0% cap · market cap 6.53%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.13M
$3.61M – $4.82M
NOI $288,987 @ 7.0% cap · market cap 13.79%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Map
- City
- Queens
- County
- Queens
- State
- New York
- Longitude
- -73.906995
- Latitude
- 40.701495
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Six floor-through apartments in a mid-rise walk-up layout, offering gas heating and basement space.
Where is this apartment building located?
The property is located at 17-17 Madison Street Queens, NY.
What is the asking price?
The asking price for this property is $2,095,000.
What are key features of this property?
This property features: 5,600 sq. ft. mid‑rise multi‑family building at 17‑17 Madison St in Ridgewood; Six floor‑through apartments with 4 free market units and 2 rent‑stabilized units; Walk‑up design with privacy in each unit
