Walk-Up Apartment Buildings on
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49-02 21st Street, Long Island City, NY 11101
Two five-story walk-up buildings on two tax lots totaling 60 apartments, with gas-ready equipment on a highly visible corner.
Property SizeContact for details
Days on Market125
Property Features for 49-02 21st Street
General Information
Standard status
Active
Property subtype
Multifamily
Additional Details
Highway Access
Yes
Multifamily Units
60
Building Details
Stories
5
Listing Agency:
Meridian Capital Group Midtown
(212) 468-5958
Listed By:
Shallini Mehra · License #NY 10301207794
Source:
Crexi
Added: Apr 10
Changed: Aug 8
Last Checked: Jul 21 at 9:25PM
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 Meridian Capital Group Midtown
Investment Insights
Based on property information with market context.
Situated across two tax lots, 49-02 21st Street and 11-58 49th Avenue are two five-story walk-up apartment buildings in the Hunter’s Point section of Long Island City. The properties contain 60 apartments that are primarily a mix of one- and two-bedroom units. Ownership has maintained the buildings in excellent condition and installed a new dual fuel burner; however, the gas lines have not yet been connected, with the stated goal of allowing the boilers to run on natural gas once configured.
The buildings are located on a corner with prominent visibility from Interstate 495 at the entrance of the Queens Midtown Tunnel. The tunnel provides access into Midtown Manhattan and is utilized by multiple bus routes and thousands of cars each day. Court Square is within walking distance, and mass transportation is described as steps from the 7 and G trains, with Manhattan accessible in minutes.
The prior operation generated signage income, and the opportunity exists to install signage to take advantage of the visibility. Ownership notes the potential to add additional bedrooms in many of the rent-regulated units as apartments become vacant.
The buildings are located on a corner with prominent visibility from Interstate 495 at the entrance of the Queens Midtown Tunnel. The tunnel provides access into Midtown Manhattan and is utilized by multiple bus routes and thousands of cars each day. Court Square is within walking distance, and mass transportation is described as steps from the 7 and G trains, with Manhattan accessible in minutes.
The prior operation generated signage income, and the opportunity exists to install signage to take advantage of the visibility. Ownership notes the potential to add additional bedrooms in many of the rent-regulated units as apartments become vacant.
Key Highlights
- Two five‑story walk‑up apartment buildings across 49‑02 21st Street and 11‑58 49th Avenue (Hunter’s Point, Long Island City).
- Total of 60 apartments; primarily 1- and 2‑bedroom layouts, with potential to add additional bedrooms in many rent‑regulated units.
- Average current rent of $1,532 per apartment.
Property Analytics
Property Profile
Current Use
Lease Details
60
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
4,865
Businesses Nearby
Explore this area
Business Placement
Demographics for 11101, NY
48,867
Population
27,093
Households
1.8
Avg Household Size
33
Median Age
65%
College-Educated
90%
High-School Grad
2.6 sq mi
ZIP Area
18,795
Density / Sq Mi
$116,807
Median Household Income
$83,892
Median Earnings
$2,740
Median Rent
$995,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Apartment building - Two five-story walk-up buildings on two tax lots totaling 60 apartments, with gas-ready equipment on a highly visible corner.
Where is this apartment building located?
The property is located at 49-02 21st Street Long Island City, NY.
What are key features of this property?
This property features: Two five‑story walk‑up apartment buildings across 49‑02 21st Street and 11‑58 49th Avenue (Hunter’s Point, Long Island City).; Total of 60 apartments; primarily 1- and 2‑bedroom layouts, with potential to add additional bedrooms in many rent‑regulated units.; Average current rent of $1,532 per apartment.
