A mixed-use building at 10-57 Jackson Avenue, located between 49th and 50th Avenues in the Long Island City neighborhood of Queens, was sold in an all-cash transaction valued at $2,260,000.
The three-story building contains approximately 4,300 square feet and sits on a 25’ x 80’ lot. It consists of two commercial units and one residential unit, with a restaurant on the ground floor, an office on the second floor, and a two-bedroom apartment on the third floor. The property has a new roof and holds additional air rights. The sale price equates to approximately $526 per square foot.
This property features a prime Long Island City location, just steps from the entrance to the 7 subway line at Vernon-Jackson.
“Due to extremely high demand for investment properties in Long Island City, especially in the Court Street district, this property traded at a record $526 per square foot,” said Director of Sales Evan J. Daniel, who exclusively handled this transaction.
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Neighborhoods: Long Island City