21-01 51st Avenue — Sale in Long Island City, NY

  • Price: $2
  • Listing type: For sale
  • Asset type: Office
  • Location: Long Island City, NY 11101
  • Size: 62,650 SF

Photos

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Description

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis to arrange the sale of a leasehold interest in 21-01 51st Avenue (the “Property”), a 100% leased, stabilized commercial asset on a long-term ground lease in the heart of Long Island City, Queens. The Property totals 62,650 square feet across three floors and generates approximately $1.5 million in NOI, offering investors immediate, stable cash flow from established commercial tenants including Ann Sacks Tile and Stone (luxury tile showroom), STV-NAIK Engineering (infrastructure engineering firm), and Skanska USA Civil Northeast (global construction group). The building has undergone over $12 million in capital improvements, encompassing tenant improvements, new HVAC, elevator modernization with roof-level access, façade and lobby renovations, and full electrical upgrades. The Property further features two loading docks, a fenced private outdoor space at the first floor, and tenant signage rights offering prominent visibility from the I-495 corridor. The Property includes a rooftop billboard sign; however, income from the sign is paid directly to the ground lessor and does not flow through to the leaseholder.

Market Context

This office in Long Island City, NY is listed for sale at $2 across 62,650 SF. Compare it against other office listings for sale in Long Island City, NY — view the full market.

As of Q1 2026, the New York City Area office market showed average asking rents near $45.36/SF/yr. Source: CBRE Q1 2026 market report.

Estimated Price per SF

$107.18/SF – $779.52/SF

Mid: $324.80/SF

About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.

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