New Construction Multifamily in
54-14 111th Street Corona, NY 11368
54-14 111th Street, Corona, NY, 11368
$3,950,000
For Sale
$3,950,000
MULTI_FAMILY - Corona, NY
Property Size8,652 SF
Lot Size0.09 Acres
Price / SF$456.54
Days on Market306
Property Features for 54-14 111th Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- R6B
- Bedrooms
- 16
- Bathrooms
- 8
- Rooms
- Bedroom 5, Bathroom 3, Bedroom 12, Bathroom 6, Bathroom 8, Bedroom 2, Bedroom 7, Bathroom 1, Bedroom 15, Bedroom 1, Bedroom 4, Bathroom 2, Bedroom 14, Bathroom 7, Bedroom 16, Bedroom 3, Bedroom 6, Bedroom 13, Bathroom 5, Bedroom 9, Bedroom 11, Bedroom 8, Bathroom 4, Bedroom 10
- Interior features
- Refrigerator, Stove
- Basement
- Finished
- Standard status
- Active
- Size
- 8,652 SF
- Lot size
- 0.09 Acres
Taxes and HOA fees
- Tax Annual Amount
- 3095
Building Details
- Year built
- 2013
- Floors in Building
- 5
- Number of units
- 8
- Flooring type
- Tile, Hardwood
- Building materials
- Brick
- Roof type
- Flat
Listing Agency
Tiger Realty
(917) 708-9966
1484 86th Street, Brooklyn, NY
Listed by
XueYan (Maggie) LI
(917) 708-9966
Added: Sep 15, 2025 Checked: Jul 17 at 3:06 pm
MLS# 495771
Listing URL
Copyright © 2026 Brooklyn New York Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This new construction building in Corona, Queens, features eight units. Each apartment contains four rooms and two bedrooms, and includes a private balcony. The building has separate boilers and water heaters for each unit. All units are currently under a one-year lease. A private driveway leads to a detached four-car garage, which is rented for $600 monthly, plus one carport rented for $100 monthly. The gross yearly income is $231,000, with net yearly income at $217,433, representing a competitive cap rate close to 5.5%. The property benefits from a property tax abatement that will remain in effect for the next twelve years. The lot size is 0.0859 acres and the property size is 8652 square feet. The zoning is R6B.
Key Highlights
- New construction 8‑unit brick building built in 2013 with flat roof
- Two 4‑room, 2‑bedroom units per floor/section, with private balcony for every unit
- Each unit has separate boilers and water heaters, plus refrigerator and stove
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 | $399.7k | $46.20 |
| − Vacancy | −$15.2k | −$1.76 |
| EGI | $384.5k | $44.44 |
| − OpEx | −$173.0k | −$20.00 |
| NOI | $211.5k | $24.44 |
8,652 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.02M
$2.64M – $3.52M
NOI $211,493 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.38M
$5.58M – $7.44M
NOI $446,485 @ 7.0% cap · market cap 11.30%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - New construction eight-unit building in Corona, Queens with strong income.
Where is this apartment building located?
The property is located at 54-14 111th Street Corona, NY.
What is the asking price?
The asking price for this property is $3,950,000.
What are key features of this property?
This property features: New construction 8‑unit brick building built in 2013 with flat roof; Two 4‑room, 2‑bedroom units per floor/section, with private balcony for every unit; Each unit has separate boilers and water heaters, plus refrigerator and stove
