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 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 NeighborhoodActive Listings
169
Median Asking Price
$1.20M
Median $/Sqft
$1,524
Avg Days on Market
N/A
New This Week
12
Price Reduced
16%
Sold (30 Days)
13
Median Sale Price
$1.27M
Live data from RLS at REBNY • Updated 4/18/26, 11:05 PM 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 4/19/2026 at 3:05 AM UTC