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Investment Highlights

  • Current NOI of $327,450; pro forma NOI of $529,938 at legal rents
  • Located in Murray Hill, one of Queens' most stable rental submarkets
  • 8 permanently free-market units deregulated pre-2019 under HSTPA
  • Short walk to Murray Hill LIRR and ~1 mile to 7 train at Flushing–Main St
  • 34% rent upside: in-place $641K vs. legal rents of $858K annually
  • 33-unit, ±25,840 SF two-building package priced at $6,000,000 ($181K/unit)

Executive Summary

42-33 and 43-37 155th Street present a rare opportunity to acquire a two-building multifamily assemblage in the Murray Hill section of Flushing, one of Queens' most established and consistently sought-after residential neighborhoods. Offered together as a single investment, the properties comprise 33 residential units across two adjacent four-story walk-up buildings, providing operational scale and a unified footprint in a supply-constrained rental market.
The offering benefits from a location surrounded by a strong residential population, neighborhood retail, restaurants, schools, and transportation options that continue to support long-term rental demand throughout Flushing. Residents enjoy convenient access to the Murray Hill Long Island Rail Road station, major thoroughfares, and the commercial amenities of Downtown Flushing, one of New York City's most active mixed-use districts.
The assemblage presents investors with immediate scale in a proven rental submarket while offering long-term asset management flexibility. The adjacent configuration creates efficiencies in operations, maintenance, and leasing, while the established residential setting supports stable occupancy. Positioned within a neighborhood characterized by limited multifamily inventory and strong tenant demand, the property represents an opportunity to acquire a substantial apartment portfolio in one of Queens' most recognized residential corridors.

Property Facts

Price $6,000,000
Price / SF $232.20 / SF
Sale Type Investment
Status Active
Number of Properties 2
Individually For Sale 0
Total Building Size 25,840 SF
Total Land Area 0.27 AC

Properties

Property Name / Address Property Type Size Year Built Individual Price
4233 155th St, Flushing, NY 11355 Multifamily 12,920 SF 1926 -
4237 155th St, Flushing, NY 11355 Multifamily 12,920 SF 1926 -
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  • Listing ID: 41832948

  • Date on Market: 8/21/2026

  • Last Updated:

  • Address: 33 Unit Package 155th Street, Flushing, Flushing, NY

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