Milton Coste

Licensed Real Estate Associate Broker

(917) 416-7433

SOLD FOR $1,075,000

· Closed November 21, 2018

5-03 50th Avenue #2-A
Closed For Sale Condo

$1,075,000

$1,152 per sq ft

5-03 50th Avenue #2-A

Long Island City, Queens

MLS® #RLS10433211

RLS at REBNY

Listing by Modern Spaces, LLC

1

Bedroom

1

Bath

933

Sq. Ft.

2008

Year Built

Quick Summary

Bedrooms 1
Bathrooms 1
Living Area 933 sq ft
Year Built 2008
Ownership Condo
HOA/Common Charges $403.46/mo
Property Taxes $512.04/yr
Parking Garage
Neighborhood Long Island City
Floor 2 of 5

Property Highlights

  • Exposure: South,West facing
  • Climate Control: Wall Units
  • Parking: Private garage

Property Details

Type Condo
Ownership Condominium
Total Rooms 4
Baths 1 Full
Floor 2 of 5
Exposure South,West
Cooling Wall Units
Pets Yes
Cross Street 5th Street/Vernon Boulevard
Year Built 2008
Living Area 933 sq ft
Parking Garage Available
Block/Lot 32/7501

Listing History

Event Date Price Change
Listed Sep 6, 2018 $1,075,000 -
Currently Apr 23, 2026 $1,075,000 -

Description

This rare opportunity to buy in The Galaxy is "out of this world."  The massive 933 sq. ft. 1-bedroom is easily convertible into a spacious 2-bedroom unit (see floor plans for suggested options). It's insanely low common charges and 421-A tax abatement make this a great deal for anyone concerned about carrying costs.

***SELLER IS COVERING THE MANSION TAX***

The unit also comes with the option for a parking space.  If you'd like, you can rent the space for an additional $250 a month, but renting the parking space is NOT a condition of the sale, it is simply an added bonus if you are interested.  The parking garage is attached to the building and can be easily accessed without having to exit the building.

The southwest exposures and 7 oversized windows provide ample natural light throughout the apartment.  Even gray days are met with more than enough light to enjoy the apartment without ever needing to flip a switch.  The 11 ft. ceilings create a sense of loft-style living.  The generous floorplan provides sufficient space to be extremely creative with the layout of the unit.

In addition to the substantial living space, the apartment also features an extremely large bedroom that could easily be divided into 2 separate bedrooms or a 1-bedroom + home office, or even a 1 bedroom + dream closet!

Not only that, but the living space is large enough to have an additional bedroom placed in there if you wanted to place your 2nd bedroom there or if you needed to design a 2-bed  + home office.

Needless to say, there is more than enough opportunity with this unit to really make the space your own.  It's definitely move-in ready as an oversized 1-bedroom, great for entertaining, or it could easily be converted into multiple layout options to meet your specific needs with minimal work required.

The building is located less than a block away from the 7 train and 2 blocks from the waterfront parks and Ferry terminal.  It's location places you right next to all the best parts the Hunters Point section of Long Island City has to offer and makes commuting into and out of the city a breeze. 

Comparatively speaking to other condos in the area, The Galaxy condo is a very low-impact building, having only 10 additional units.  Enjoy BBQing with magnificent 360-degree views of Manhattan, Queens & Brooklyn on the beautifully appointed roof deck of this 6 story boutique building.  Invite your friends over to catch the perfect view of the fireworks on the East River every 4th of July.

Don't miss this rare opportunity to own in a building with limited inventory and the most convenient location in Long Island City.

***There is currently an additional $51.13 monthly fee going to the RESERVE FUND that is not included in the common charges....this is due to expire in the next couple of months according to management

Features & Amenities

Interior Features

Building Washer Dryer Install Allowed

Exterior Features

Building Roof Deck

Appliances

Dryer Washer

Building Information

Stories 5

Financial Details

Common Charges $403.46/mo
RE Taxes $512.04/yr ($43/mo)
Sale Price $1,075,000

Long Island City sits directly across the East River from Midtown Manhattan, reachable in one stop on the 7 train. LIC has added more than 12,000 residential units since 2015, transforming former industrial blocks into a corridor of glass-tower condos, converted loft co-ops, and rental high-rises along the waterfront. Gantry Plaza State Park, MoMA PS1, and the Hunters Point Library anchor the neighborhood’s cultural identity. Median condo prices run roughly 30-40% below comparable Manhattan waterfront units, drawing both first-time buyers and investors looking for appreciation in one of the city’s highest-growth zip codes.

Long Island City Live Market Data

View Neighborhood

Active Listings

165

Median Asking Price

$1.20M

Median $/Sqft

$1,526

Avg Days on Market

N/A

New This Week

9

Price Reduced

18%

Sold (30 Days)

13

Median Sale Price

$1.27M

Live data from RLS at REBNY • Updated 4/23/26, 7:45 AM EST

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Location

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5-03 50th Avenue #2-A, Long Island City, Queens County • Near 5th Street/Vernon Boulevard

Floor Plans

Floor Plan

Building Information

Official NYC property records for this building

2006
Year Built
20 years old
6
Floors
12
Residential Units
M1-4/R6A
Zoning District
Condominiums

Tax & Assessment

Assessed Value: $1,633,054
Land Value: $130,052
Exemptions: $0

Note: Individual unit taxes may differ. Verify current tax bills with NYC DOF.

Lot Area: 5,625 SF
Building Area: 18,375 SF
Built FAR: 3.27
Allowed FAR: 3

Source: NYC PLUTO (Primary Land Use Tax Lot Output), NYC Department of City Planning (data.cityofnewyork.us)

Want help estimating ownership costs or understanding building compliance? Let's discuss

Frequently Asked Questions

Common questions about this property

The current listed common charges are $403.46 per month. Confirm the exact amount with the listing broker before making an offer.

The current listed annual property tax is $512.04, or roughly $43 per month. Verify the current assessment with your attorney before closing.

This property has 1 bedroom and 1 full bathroom.

The listed interior living area is 933 square feet. Verify dimensions independently during due diligence.

According to MLS records, the building was constructed in 2008, making it approximately 18 years old.

This listing is a condominium. Buyers receive a deed to their individual unit and own their space outright, subject to condo association rules.

Pets are permitted at this property. Contact the listing broker for weight limits or breed restrictions.

At the current list price of $1,075,000 for 933 sq ft, the asking price per square foot is approximately $1,152. This figure is for reference only and may differ from appraised or assessed values.

To schedule a private showing, contact Milton Coste at (917) 416-7433 or mcoste@kwnyc.com. Per REBNY guidelines effective 2025, a Buyer Representation Agreement is required before a buyer's broker can show you properties. You may attend open houses independently without one.

Have a question not answered here?

(917) 416-7433
MLS® ID: RLS10433211
First Listed: 9/6/2018
Closed: 11/21/2018
Contract Date: 9/6/2018

Listing Courtesy of Modern Spaces, LLC - Heath Tucker

Listing Contact: (646) 961-4800

Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York's Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer's personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2026 The Real Estate Board of New York, Inc., all rights reserved. This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.

Broker Commission Disclosure: Broker commissions are not set by law and are fully negotiable.

Buyer Notice: Planning to work with a buyer's broker? A Buyer Representation Agreement is required before your broker can show you properties, per REBNY/UCBA guidelines (effective 2025). You may attend open houses independently without one.

RLS at REBNY

RLS Data display by Keller Williams NYC. Data last updated on 4/23/2026 at 11:45 AM UTC

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