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Status: Active

39-29 47TH Avenue, #

Hunters Point-Sunnyside-West Maspeth

$5,000,000
 |  12 Beds  |  8 Baths  |  6,624SF

Description

The Forray Team at The Corcoran Group presents 39-29 47th Avenue, a fully remodeled Ultra Rare 10 Unit mixed-use property in Sunnyside, Queens. This investment comprises six residential units (5 free market & 1 rent stabilized) and four commercial spaces, offering a balanced income stream in a highdemand rental market.

Redeveloped in 2018, the property blends classic architecture with modern amenities. Residential units feature high end finishes, including stainless steel appliances, in-unit washers and dryers, and hardwood flooring, appealing to quality-conscious tenants.

Located near the 7 train at 40th Street-Lowery Street, tenants enjoy swift access to Midtown Manhattan. The neighborhood offers a variety of amenities, with a caf , deli, office & Lessage Laser Spa, a premier skincare clinic, situated within the building.

Financially, the property demonstrates robust performance with favorable tax class 2B status, a current NOI of $272,953, reflecting a 5.46% cap rate based on a $5,000,000 purchase price. Projections indicate potential growth, with NOI projected up to $304,000 with improvements and further future growth with rising rents for both residential and commercial units. Sunnyside has experienced ...
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Property Details

  • Commercial

Amenities

  • Building: Green Building
  • Interior: Smoke Free
  • Patio: None
  • Attendance: None
  • View: Other
  • Laundry: Building Other
  • Pets: Building Yes, No
  • Basement: Other

The Neighborhood

Hunters
Point-Sunnyside-West
Hunters Point-Sunnyside-West Maspeth

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For information on 39-29 47TH Avenue, # contact:

realtor top real estate agent

Angelica Blotkevich

Licensed RE Salesperson

917-690-0709

Licensed RE Salesperson
angelica@brickandmortar.com
917-690-0709

Listing courtesy of Corcoran Group
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