Woodside Multifamily Building for
For Sale
$1,400,000
47-44 43rd St, Queens, NY 11377
Well-maintained 6-unit building in Woodside with convenient transit access.
Property Size5,148 SF
Lot Size0.07 Acres
Price / SF$271.95
Days on Market121
Property Features for 47-44 43rd St
General Information
Standard status
Active
Size
5,148 SF
Lot size
0.07 Acres
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$28,895
Building Details
Building Size
5,148 SF
Year Built
1928
Units
6
Listing Agency:
EXIT REALTY TEAM
(718) 358-4000
Listed By:
Charles Chul Chang CBR · License #1029266
Source:
Elliman
Added: Apr 12
Changed: Aug 8
Last Checked: Aug 10 at 7:47AM
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 EXIT REALTY TEAM
Investment Insights
Based on property information with market context.
This well-maintained 6-family building is located in Woodside. The property is situated on a 27.42 x 105 lot, which is 2,879 sq ft, with a building size of 22 x 78 and approximately 5,148 sq ft of gross living area. The building comprises five 2-bedroom apartments and one 1-bedroom apartment. The owner-occupied building reflects consistent upkeep and care. Features include a full, unfinished basement with walkout access to the backyard, providing additional storage and utility space, as well as a high-tech security system. The property is conveniently located just off Greenpoint Avenue, with easy access to restaurants, shopping, and parks. The location is approximately three blocks to the 7 train at 40th Street–Lowery Street station, offering a direct commute to Midtown Manhattan in about 15 minutes. The bike score is 80, indicating it is very bikeable. The walk score is 80, indicating it is very walkable, and the transit score is 78, indicating excellent transit.
Key Highlights
- Six‑family building featuring five 2‑bedroom and one 1‑bedroom apartments.
- Prime location just off Greenpoint Avenue, and three blocks to the 7 train at 40th Street–Lowery Street station.
- Well‑maintained and owner‑occupied, reflecting consistent upkeep and care.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$125,840
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,516,800
$2.5M
Cap Rate 7%
$1,797,714
$1.8M
Cap Rate 9%
$1,398,222
$1.4M
Market Conditions
NOI Build-Up for 5,148 SF
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.
Gross rent
$237.8K $46.20/SF
− Vacancy
−$9.0K −$1.76/SF
EGI
$228.8K $44.44/SF
− OpEx
−$103.0K −$20.00/SF
NOI
$125.8K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,516,800
Cap Rate 7%
$1,797,714
Cap Rate 9%
$1,398,222
Alternative Uses
Best Use
Apartment 5plus
$1.80M
$1.57M – $2.10M
NOI $125,840 @ 7.0% cap · market cap 8.99%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.80M
$3.32M – $4.43M
NOI $265,662 @ 7.0% cap · market cap 18.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
3,575
Businesses Nearby
Explore this area
Business Placement
Demographics for 11377, NY
91,512
Population
34,928
Households
2.6
Avg Household Size
39
Median Age
33%
College-Educated
82%
High-School Grad
2.5 sq mi
ZIP Area
36,605
Density / Sq Mi
$73,292
Median Household Income
$45,978
Median Earnings
$1,802
Median Rent
$670,300
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 - Well-maintained 6-unit building in Woodside with convenient transit access.
Where is this apartment building located?
The property is located at 47-44 43rd St Queens, NY.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Six‑family building featuring five 2‑bedroom and one 1‑bedroom apartments.; Prime location just off Greenpoint Avenue, and three blocks to the 7 train at 40th Street–Lowery Street station.; Well‑maintained and owner‑occupied, reflecting consistent upkeep and care.
