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60-Unit Prewar Elevator Building

$8,600,000

47-51 40th Street, Sunnyside, NY 11104

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Last Updated: 05/06/2026

7.24

Cap Rate

622,234

NOI

Details:
Cap Rate:    7.24%
NOI:    $622,234
Building Size:    58,800 sqft
Lot Area:    14,000 sqft
Units:    60
GRM:    6.72
Price Per Sqft:    $146
Price Per Unit:    $143,333
Zoning:    R6
Highlights:
  • A prominent six-story, elevator-serviced apartment building spanning approximately 58,800 gross square feet
  • Situated on the east side of 40th Street, just 0.2 miles from the 7-subway line for an easy Manhattan commute
  • Clean and well-maintained building with strong collections
  • Features a strong mix of both fair-market and rent-stabilized apartments
  • The property is a short walk to the iconic Sunnyside Arch on Queens Boulevard and the historic Sunnyside Gardens historic district
  • Cash-flowing asset generating approximately $1,300,000 in gross annual income
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