5-27 51ST Avenue #2B
About This Property
Unit 2B is has been impeccably maintained and has a smart and functional layout that feels spacious and open. The apartment boasts a beautiful kitchen with Ceasarstone Quarz counter tops and high-quality appliances, including Kitchen Aid oven range, microwave, and dishwasher, as well as Fisher & Paykel refrigerator. The kitchen flows nicely into the dining/living room, which is open and bright and looks out on the unit's stunning private terrace. The owner upgraded the fence surrounding the terrace and increased the height of the fence with double-sided premium recycled wood and polymers to ensure maximum privacy. This gorgeous terrace is a peaceful haven from the hustle and bustle of the city and is perfect for entertaining, gardening, and relaxing.
The bedroom easily fits a queen-sized bed, with ample room left over for additional furniture. Kohler and Duravit fixtures in the bathroom, LG washer/dryer, and white oak floors complete this thoughtfully-designed 1BR.
Five27 is a boutique condominium designed with architecture that is both modern and urban. The building's amenities include: a 24-hour virtual doorman, an outdoor common terrace with a grill, a fitness center, and a lounge for relaxing or hosting parties. Storage lockers and bike storage are also available for rent. Five27 is conveniently located just a few short blocks from the Vernon/Jackson subway stop on the 7 train, and it is one stop to Midtown Manhattan. Long Island City is one of the hottest neighborhoods in NYC, and at Five27, you are just minutes from restaurants, bars, shops, the subway, the East River Ferry, a new state-of-the-art library, and the magical waterfront park. The building offers a 421-a tax abatement in place until June 30th, 2029.
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Cap Rate Calculator
What does this mean?
Based on our analysis, the cap rate of this property is 1.25%. A negative cap rate indicates that the property might not be feasible as an income-producing asset. The median cap rate for a near zip code 11238 is 4.23%.
How much can I actually make?
Actual monthly rental income may vary between $4,760 and $7,140 depending on unit-specific characteristics. You can change the amount using the slider to further explore.
How is cap rate calculated?
Cap Rate = Net Operating Income (NOI) / Property Asset Value.
When calculating the cap rate, we assume 100% occupancy. Leverage (mortgage) is not considered.
You can learn more about cap rate here .
Price History
Date / Event | Date | Event | Price |
---|---|---|---|
Mar 28, 2024 | Sold | $975,000 | |
Sold | |||
Jan 19, 2024 | In contract | - | |
In contract | |||
Dec 7, 2023 | Listed by Brown Harris Stevens Queens LLC | $999,000 | |
Listed by Brown Harris Stevens Queens LLC | |||
Oct 4, 2013 | Sold to Louis D Magnan | $702,593 | |
Sold to Louis D Magnan |
Property Highlights
Comparables
Status
Price/ft²
Listed On
Sold On
Past Sales
Date | Unit | Beds | Baths | Sqft | Price | Closed | Owner | Listed By |
---|---|---|---|---|---|---|---|---|
12/07/2023
|
1 Bed
|
1 Bath
|
670 ft²
|
$999,000
1 Bed
1 Bath
670 ft²
|
$975,000
-2.40%
03/28/2024
|
-
|
Jonna Stark
Brown Harris Stevens Queens LLC
| |
05/05/2023
|
1 Bed
|
1 Bath
|
-
|
$830,000
1 Bed
1 Bath
|
$830,000
08/23/2023
|
-
|
Sharon Weinstein
Modern Spaces, LLC
| |
01/16/2023
|
2 Bed
|
2 Bath
|
950 ft²
|
$1,200,000
2 Bed
2 Bath
950 ft²
|
$1,200,000
02/08/2023
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
09/21/2022
|
Studio
|
1 Bath
|
490 ft²
|
$649,000
Studio
1 Bath
490 ft²
|
$649,000
01/26/2023
|
-
|
Henry Yang
Modern Spaces, LLC
| |
08/30/2021
|
Studio
|
1 Bath
|
490 ft²
|
$599,999
Studio
1 Bath
490 ft²
|
-
-
|
-
|
Martin Freiman
Redfin Real Estate
| |
09/10/2021
|
2 Bed
|
2 Bath
|
950 ft²
|
$1,325,000
2 Bed
2 Bath
950 ft²
|
$1,270,000
-4.15%
02/15/2022
|
-
|
Peter Smith
Level Group, Inc.
| |
05/20/2019
|
1 Bed
|
1 Bath
|
680 ft²
|
$895,000
1 Bed
1 Bath
680 ft²
|
$865,000
-3.35%
11/22/2019
|
-
|
Antipas Dimakopoulos
Modern Spaces
| |
02/26/2018
|
1 Bed
|
1 Bath
|
-
|
$850,000
1 Bed
1 Bath
|
$850,000
06/15/2018
|
-
|
Jonna Stark
Brown Harris Stevens Queens LLC
| |
04/11/2017
|
2 Bed
|
2 Bath
|
1180 ft²
|
$1,595,000
2 Bed
2 Bath
1180 ft²
|
$1,585,000
-0.63%
02/05/2021
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
07/25/2016
|
Studio
|
1 Bath
|
490 ft²
|
$655,000
Studio
1 Bath
490 ft²
|
$655,000
02/05/2021
|
-
|
Henry Yu Yang
Modern Spaces
| |
10/02/2014
|
Studio
|
1 Bath
|
490 ft²
|
$605,000
Studio
1 Bath
490 ft²
|
$565,000
-6.61%
02/05/2021
|
-
|
Jonna Stark
Brown Harris Stevens Queens LLC
| |
09/16/2013
|
1 Bed
|
1 Bath
|
670 ft²
|
$750,000
1 Bed
1 Bath
670 ft²
|
-
-
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
07/02/2013
|
2 Bed
|
2 Bath
|
1368 ft²
|
$1,580,000
2 Bed
2 Bath
1368 ft²
|
$1,580,000
02/05/2021
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
06/24/2013
|
Studio
|
1 Bath
|
490 ft²
|
$445,000
Studio
1 Bath
490 ft²
|
$445,000
04/01/2014
|
-
|
Tonia N.
Modern Spaces
| |
06/11/2013
|
1 Bed
|
1 Bath
|
670 ft²
|
$625,000
1 Bed
1 Bath
670 ft²
|
$616,000
-1.44%
04/01/2014
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
05/28/2013
|
Studio
|
1 Bath
|
490 ft²
|
$430,000
Studio
1 Bath
490 ft²
|
-
-
|
-
|
Tonia N.
Modern Spaces
| |
05/15/2013
|
2 Bed
|
2 Bath
|
937 ft²
|
$950,000
2 Bed
2 Bath
937 ft²
|
$945,000
-0.53%
04/01/2014
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
05/15/2013
|
1 Bed
|
1 Bath
|
670 ft²
|
$590,000
1 Bed
1 Bath
670 ft²
|
$605,000
+2.54%
04/01/2014
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
05/15/2013
|
Studio
|
1 Bath
|
490 ft²
|
$440,000
Studio
1 Bath
490 ft²
|
$430,000
-2.27%
04/01/2014
|
-
|
Tonia N.
Modern Spaces
| |
05/13/2013
|
2 Bed
|
2 Bath
|
950 ft²
|
$865,000
2 Bed
2 Bath
950 ft²
|
$877,000
+1.39%
04/01/2014
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
05/10/2013
|
1 Bed
|
1 Bath
|
680 ft²
|
$664,917
1 Bed
1 Bath
680 ft²
|
$653,000
-1.79%
04/01/2014
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
04/23/2013
|
2 Bed
|
2 Bath
|
950 ft²
|
$950,000
2 Bed
2 Bath
950 ft²
|
$982,000
+3.37%
04/01/2014
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
04/15/2013
|
1 Bed
|
1 Bath
|
680 ft²
|
$555,000
1 Bed
1 Bath
680 ft²
|
$645,000
+16.22%
04/01/2014
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
04/15/2013
|
2 Bed
|
2 Bath
|
937 ft²
|
$785,000
2 Bed
2 Bath
937 ft²
|
$845,000
+7.64%
04/01/2014
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
04/08/2013
|
1 Bed
|
1 Bath
|
632 ft²
|
$535,000
1 Bed
1 Bath
632 ft²
|
$539,000
+0.75%
04/01/2014
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
04/06/2013
|
Studio
|
1 Bath
|
490 ft²
|
$410,000
Studio
1 Bath
490 ft²
|
$421,000
+2.68%
04/01/2014
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
04/06/2013
|
1 Bed
|
1 Bath
|
680 ft²
|
$545,000
1 Bed
1 Bath
680 ft²
|
$545,000
04/01/2014
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
04/06/2013
|
1 Bed
|
1 Bath
|
680 ft²
|
$540,000
1 Bed
1 Bath
680 ft²
|
$540,000
04/01/2015
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
04/06/2013
|
2 Bed
|
2 Bath
|
950 ft²
|
$765,000
2 Bed
2 Bath
950 ft²
|
$770,000
+0.65%
04/01/2014
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
04/02/2013
|
1 Bed
|
1 Bath
|
632 ft²
|
$520,000
1 Bed
1 Bath
632 ft²
|
$520,000
04/02/2015
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
04/02/2013
|
Studio
|
1 Bath
|
490 ft²
|
$395,000
Studio
1 Bath
490 ft²
|
$395,000
04/01/2015
|
-
|
Christina DeCurtis
Modern Spaces, LLC
| |
04/02/2013
|
2 Bed
|
2 Bath
|
937 ft²
|
$730,000
2 Bed
2 Bath
937 ft²
|
$833,000
+14.11%
04/01/2015
|
-
|
Christina DeCurtis
Modern Spaces, LLC
|