Milton Coste

Licensed Real Estate Associate Broker

(917) 416-7433

SOLD FOR $840,000

· Closed November 20, 2019

50 2ND Street #720
Closed For Sale Condo

$840,000

$987 per sq ft

50 2ND Street #720

Long Island City, Queens

THE POWERHOUSE

MLS® #RLS10572175

RLS at REBNY

Listing by Halstead dba Brown Harris Stevens Residential Sales LLC

1

Bedroom

1

Bath

851

Sq. Ft.

N/A

Year Built

Quick Summary

Bedrooms 1
Bathrooms 1
Living Area 851 sq ft
Year Built N/A
Ownership Condo
HOA/Common Charges $709/mo
Property Taxes $384/yr
Parking Garage
Neighborhood Long Island City
Floor 720 of 11

Property Highlights

  • Parking: Private garage

Property Details

Type Condo
Ownership Condominium
Total Rooms 3
Baths 1 Full
Floor 720 of 11
Pets Yes
Cross Street 51st Ave/50th Ave
Living Area 851 sq ft
Parking Garage Available

Listing History

Event Date Price Change
Listed Jul 13, 2019 $799,000 -
Currently Apr 22, 2026 $840,000 +5.1%

Description

Architect Karl Fisher designed The Powerhouse Condominium, a conversion of the 1909 Long Island Power Station into a full service luxury condominium with interiors by Andres Escobar. You will enjoy residence in this gracious one bedroom with a spacious living room/dining area and dual access to the bathroom from both the bedroom and the entry foyer. The rooms are generously sized and have hardwood strip floors and large windows offering excellent light. The kitchen has stainless steel appliances including a Viking refrigerator and microwave, glass block backsplash, under cabinet lighting, GE oven/stove and marble counters and a breakfast bar on the living room side. There is a stacked Bosch washer/dryer in the home and wall mounted thermostats in both the living room and the bedroom for individual monitoring of the heating/air-conditioning. Indulge yourself in the building amenities including a state of the art fitness center, sauna, residents' lounge with billiard table, media room, roof terrace with grilling stations, dining tables and spectacular panoramic views of Manhattan. There is a resident super, 24/7 Concierge and bicycle storage. The location is ideal: Just 2 blocks to the 7 train only one stop to Grand Central; also conveniently located near the ferry service to 34th Street in Manhattan or to the Brooklyn waterfront. Enjoy fabulous outdoor activities right outside your doorstep one block from Gantry Park which is a part of the Hunters Point Park Conservancy.Take advantage of the low real estate taxes. The 421(a) tax abatement expires in June of 2024. Please contact me to arrange your private viewing.

Features & Amenities

Appliances

Dryer Washer

Building Information

Building THE POWERHOUSE
Total Units 175
Stories 11

Financial Details

Common Charges $709/mo
RE Taxes $384/yr ($32/mo)
Original Price $799,000
Sale Price $840,000

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

166

Median Asking Price

$1.20M

Median $/Sqft

$1,527

Avg Days on Market

N/A

New This Week

11

Price Reduced

18%

Sold (30 Days)

13

Median Sale Price

$1.24M

Live data from RLS at REBNY • Updated 4/22/26, 4:37 PM EST

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Location

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50 2ND Street #720, Long Island City, Queens County • Near 51st Ave/50th Ave

Floor Plans

Floor Plan

Building Information

Official NYC property records for this building

1901
Year Built
125 years old
2
Floors
2
Residential Units
R6B
Zoning District
Two Family Dwellings

Tax & Assessment

Assessed Value: $211,860
Land Value: $34,320
Exemptions: $0

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

Lot Area: 1,800 SF
Building Area: 2,400 SF
Built FAR: 1.33
Allowed FAR: 2

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 $709 per month. Confirm the exact amount with the listing broker before making an offer.

The current listed annual property tax is $384, or roughly $32 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 851 square feet. Verify dimensions independently during due diligence.

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

Pet policy requires confirmation with the listing broker.

At the current list price of $840,000 for 851 sq ft, the asking price per square foot is approximately $987. 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: RLS10572175
First Listed: 7/13/2019
Closed: 11/20/2019
Contract Date: 7/13/2019

Listing Courtesy of Halstead dba Brown Harris Stevens Residential Sales LLC - Frances Lucy

Listing Contact: (212) 381-2374

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 4/22/2026 at 8:37 PM UTC

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