The Reel

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A blog for breaking sales and neighborhood real estate news.

The subject is a 29 unit walk-up apartment building on the west side of 35th Street between 36th and 37th Avenues in Long Island City. The building has fourteen (14) large one-bedroom apartments, fourteen (14) large two-bedroom apartments, one large three-bedroom apartment and an apartment in the basement for the Super. All but one of the units are rent stabilized and there is only one vacancy. The building’s rent roll is approximately 25% below market value offering upside to an investor.

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Neighborhoods: Long Island City