Property summary
This exceptional Queens, NY multifamily property presents a unique value-add opportunity. Priced at $28,000,000, this 62-unit condominium building (56 residential, 6 commercial) boasts 55,000 square feet on a 50,000 square foot lot. Built in 1920 and renovated in 2010, the property features two four-story buildings with a current 100% occupancy rate (as of May 1, 2024). The current NOI is $1,500,000, with a pro-forma NOI projected at $3,000,000, resulting in a pro-forma cap rate of 10.71%. … A significant advantage is the existing $17.1 million assumable loan at a low 3.724% interest rate, offering a 30-year amortization with over 7 years remaining. The property has received Attorney General Approval (CPS-11) for an "as-is" condo conversion, eliminating the need for further architectural drawings or permits. This streamlined process, coupled with the high projected condo sell-out value of over $40 million, positions this investment for a substantial cash-on-cash return within two years. The current occupancy allows for a quick transition to condo sales, with 20 of 29 potential buyers already signed. The property's location in Jackson Heights, Queens (11372), offers strong rental demand and significant upside potential. The price per unit is $451,613, and the land value is $450 per square foot.
Ownership intelligence
Owner of record from public deeds, plus portfolio, hold profile and investor signals where the data supports them. In the full report.
Owner contacts
Skip-traced phones and e-mails of the owner. Included with the full report.
Mortgages
Recorded lenders, amounts and estimated maturities of the owner's loan book — in the full report.
Property tax
No data for this sectionNo tax or assessment record is on file for this parcel in the county feed.
Value estimate
· Sep 2026No data for this sectionNo value estimate could be modeled: the record carries too little market input for this parcel.
Recently sold
No data for this sectionNo cleaned sale $/SF benchmark exists for this use type in this ZIP, submarket or county yet.
Cap rate analysis
No income signal is modeled for this parcel yet — the Cap Rates tab runs the workflow.
Zoning insight
No data for this sectionNo zoning code is on file for this parcel. Coverage grows with every catalog release.
Location intelligence
Demand index: how under-served this business type is around this point — modeled from the LocInt grid (area demand vs. what already operates, adjusted by real visit traffic). Higher means stronger unmet demand.
Location
Every figure names its source: public record, benchmark, or modeled. Coverage varies by property — thin data is stated as missing, never invented.
Comparables
6 recorded sales · 15 properties nearbyComparable nearby
Similar Nearby for Sale
Similar in This City for Lease
Instant AI valuation built from comps, income signals, and proprietary benchmarks.A defensible range, not a single guess.
from $99/month
- GBA
- 55,000 SF
- Year built
- 1920
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
from $99/month
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
No zoning code is on file for this parcel. Zoning coverage grows with every catalog release — check back, or open Location Intelligence for use analysis of this corner.
Phones and e-mails of the people behind this property's owner, traced from licensed contact data.
Owner phones and e-mails come with the full report for this property - traced from licensed contact data, with verification and Do-Not-Call flags on every number.
Unlock the evidence behind ownership: portfolio, transactions, debt and any signals we can model, to help you decide who to contact next.
Registration is required before any owner information is shown.
The mortgage data is behind the paid report: recorded loans of the owner - lender, amount, rate and the estimated maturity - as part of the Ownership Intelligence workspace.
Registration is required before any owner information is shown.
- Ownership
- Owner Contacts
- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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- Owner Contacts
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- Alternative use
- Local Zoning Insight
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- Full Property Data
- Historical Records
- Value Estimation
- NOI Potential
- Cap Rate Calculation
- Location Insight
- Alternative use
- Local Zoning Insight
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