Modern Spaces Commercial + Investment Division is pleased to announce the exclusive offering of 47-09 5th Street in Long Island City. The featured property is a new construction, boutique, elevator mixed-use building situated in Hunter’s Point, just a few blocks from the waterfront. The unit mix consists of eight two-bedroom apartments and a ground floor retail space. Six of the apartments have private outdoor space. The building is fully equipped with security cameras.

The offering provides an investor the opportunity to purchase a brand new income producing asset, which is currently fully leased. The total combined annual gross income for the residential and commercial portions is $744,247. Of this, the residential gross income is $463,800 and the commercial is $280,447 (including the $16,447 tax reimbursement). The retail space was just leased in August 2018 to a day care tenant for a ten-year term with two five-year option periods.

The following opportunity is prime for any investor or 1031 buyer seeking immediate cash flow and a turnkey investment in the fastest growing NYC community.

For More Information About the Property, Please Click the Link Below:

47-09 5th Street Setup (PDF)