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5 47th Ave, - 5-31 & 5-33 47th ave, Long Island City, NY 11 0.18 Acres of Residential Land Offered at $14,800,000 in Long Island City, NY 11101
Investment Highlights
- Prime Long Island City location — one block from Vernon Blvd and steps from the East River waterfront
- Ideal for mid- to high-rise residential or mixed-use development
- Excellent transit access via 7, E, and G subway lines and NYC Ferry
- Two adjacent lots totaling 8,150 SF with significant redevelopment potential
- Surrounded by luxury towers, cultural amenities, and growing retail scene
- Strong neighborhood growth in one of NYC’s fastest-evolving residential markets
Executive Summary
Property Facts Under Contract
| Price | $14,800,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 0.18 AC |
| Zoning | R7X Proposed - Rezoning to R7X allows multifamily residential development with FAR 5, ideal for mid- to high-rise projects. | ||
| Price | $14,800,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.18 AC |
| Zoning | R7X Proposed - Rezoning to R7X allows multifamily residential development with FAR 5, ideal for mid- to high-rise projects. |
1 Lot Available
Lot
| Price | $14,800,000 | Lot Size | 0.18 AC |
| Price Per AC | $80,435,219.76 |
| Price | $14,800,000 |
| Price Per AC | $80,435,219.76 |
| Lot Size | 0.18 AC |
Two adjacent parcels totaling 8,150 SF with anticipated R7X OneLIC rezoning (FAR 5) and approx. 40,750 SF buildable area, steps from Vernon Blvd and the East River waterfront.
Description
East Coast Realtors proudly presents 5-31 & 5-33 47th Avenue, a premier development assemblage totaling 8,150 SF in the heart of Long Island City’s Hunters Point. Comprising two adjacent parcels of 4,075 SF each, this site offers a proposed buildable area of approximately 40,750 SF under the anticipated R7X OneLIC rezoning (FAR 5). Strategically positioned just one block from Vernon Boulevard and steps from the East River waterfront, the property is surrounded by high-end residential towers, boutique retail, and thriving restaurants—making it an ideal canvas for a mid- to high-rise multifamily or mixed-use development.
Property Taxes
| Parcel Number | 00028-0017 | Improvements Assessment | $0 |
| Land Assessment | $225,720 | Total Assessment | $225,720 |
Property Taxes
Presented by
East Coast New York
5 47th Ave, - 5-31 & 5-33 47th ave, Long Island City, NY 11
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