5-11 50th Avenue
MLS® #RLS10721241
Listing by Compass
8
Bedrooms
4
Baths
6,100
Sq. Ft.
2004
Year Built
Quick Summary
Property Highlights
- Outdoor Space: Building Terrace, Terrace
- Fireplace: Wood-burning or decorative fireplace
- Climate Control: Building Cooling, Wall Units
Property Details
Description
Compass has been retained on an exclusive basis to arrange for the sale of 5-11 50th Avenue in Prime Long Island City -- a 6100 SF, condo-quality building consisting of 4-units with a two-car garage and numerous outdoor spaces. The property's mixed-use zoning allows for first floor retail, a condo conversion with a quick turnaround, as well as numerous other opportunities. The building has a cell phone net-lease in place paying $3,210/month (3% escalations) that has multiple offers around $600K, allowing an owner to purchase in full and then lower their basis to ~$4.35M. With condos in the area selling for upwards of $1,250/SF and rents over $60/SF, 5-11 50th Ave has excellent potential as an income-based investment, as a condo conversion, or for an end-user, either as a residential single-family with parking, or for a commercial end-user as prime retail with residence(s) above. Please reach out for a setup, pro-forma, or for any questions. Co-brokers always welcome.
Features & Amenities
Interior Features
Exterior Features
Building Information
About Long Island City
View All Long Island City ListingsLong Island City (LIC) is one of New York’s fastest-growing residential neighborhoods, offering a modern urban lifestyle just one stop from Manhattan. Famous for its stunning waterfront parks and the iconic Pepsi-Cola sign, LIC is a hub for contemporary art and luxury living. The real estate market is dominated by sleek, new construction glass towers that offer world-class amenities and breathtaking, unobstructed views of the Manhattan skyline.
Long Island City Live Market Data
View NeighborhoodActive Listings
153
Median Asking Price
$1.20M
Median $/Sqft
$1,528
Avg Days on Market
N/A
New This Week
10
Price Reduced
8%
Sold (30 Days)
10
Median Sale Price
$1.38M
Live data from RLS at REBNY • Updated 3/25/26, 4:01 AM EST
Recently Sold in Long Island City
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Location
5-11 50th Avenue, Long Island City, Queens County • Near 5th Street/Vernon Boulevard
Floor Plans
Listing Data
RLS® at REBNY (Real Estate Board of New York) via Trestle API. Updated in real-time.
Market Data
RLS® at REBNY (Real Estate Board of New York). Live data updated in real-time.
Map & Location
OpenStreetMap contributors via Leaflet. Geocoding via Nominatim.
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Listing Courtesy of Compass - Nathan Horne
Listing Contact: (706) 255-5657
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RLS Data display by Keller Williams NYC. Data last updated on 3/25/2026 at 8:01 AM UTC