NOT LISTED FOR SALE

25-03 40th Ave Long Island City, NY 11101

Long Island City Neighborhood

Estimated Value: $2,131,299

2 Beds
4 Baths
-- Sq Ft
1,000 Sq Ft Lot

Last Sold November 26, 2019

Last sale price $1,850,000

Est. 15% increase in value since last sale

Current estimated payment $13,840/month

88 Days on Market

About This Home

As of November 2019

Unique Mixed Use Property. This 4 Story Brick House Features A Mix Of Commercial & Residential Units. Main Floor Is a commercial Store/Office Front That Would Suit Many Different Businesses. 2nd Floor Features An Updated Residential 2BR Unit 3rd & 4th Floors both offer 1 Unit Storage & 1 unit Office/Storage. Located In The Heart Of Lic In Close Proximity To The Subway.

Last Agent to Sell the Property

Bart Olszewski

Sold By Bart R E Partners Inc License #10311208520 Listed on: 06/17/2019

Co-Listed By

Michael Marek

Sold By Bart R E Partners Inc License #10311208521

Last Buyer's Agent

Shameer Fazal

Keller Williams Landmark II License #10491207122

Keller Williams Landmark II

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $11,973

Year Built

  • Built in 1930

Lot Details

  • 1,000 Sq Ft Lot
  • Lot Dimensions are 20' x 50'
  • Two or More Common Walls

Home Design

  • Brick Exterior Construction

Interior Spaces

  • Home Office
  • Basement Fills Entire Space Under The House
  • Range

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 4 Full Bathrooms

Utilities

  • No Cooling
  • Heating System Uses Steam
  • Heating System Uses Natural Gas

Community Details

  • 6 Units

Listing and Financial Details

  • Exclusions: Dishwasher,Dryer,Washer
  • Legal Lot and Block 101 / 396

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$11,973

Year Built

Built in 1930

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Architectural Style: Store+Dwell
  • Property SubType: Multi Family
  • Exclusions: Dishwasher,Dryer,Washer
  • Building Size: 20' x 46'
  • Year Built: 1930
  • New Construction: No
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Appliances: Range, Refrigerator
  • Interior Amenities: Home Office
  • Living Area Units: Square Feet
  • Common Walls: 2+ Common Walls
  • Total Bathrooms: 4
  • Full Bathrooms: 4
  • Basement: Full
  • Inclusions: Oven/Range, Refrigerator
  • Total Bedrooms: 2
  • Kitchens: 2

Exterior Features

  • Construction Materials: Brick
  • Flood Zone Date: 2019-06-18
  • Flood Zone Report: Yes
  • View YN: No

Garage/Parking

  • Attached Garage: No
  • Garage: No
  • Parking Description: None

Utilities

  • Cooling: None
  • Cooling: No
  • Heating: Natural Gas, Steam

Condo/Co-op/Association

  • Senior Community: No

Schools

  • School District Number: 30

Lot Info

  • Lot Size Acres: 0.0200
  • Lot Dimensions: 20' x 50'
  • Lot Size Sq Ft: 1000.00
  • Property Attached: Yes

Rental Info

  • Lease Considered: No

Tax Info

  • Close Date: 2019-11-26
  • Tax Annual Amount: 11973.00
  • Tax Block: 396
  • Tax Lot: 101

Multi Family

  • Units Total: 6

MLS Schools

  • Middle School District: Queens 30

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 17, 2019
Closed on
Nov 26, 2019
Sold by
Stathes Milton and Stathis Michael
Bought by
2503 Lic Inc
Seller's Agent
Bart Olszewski
Sold By Bart R E Partners Inc
Buyer's Agent
Shameer Fazal
Keller Williams Landmark II
List Price
$1,950,000
Sold Price
$1,850,000
Premium/Discount to List
-$100,000
-5.13%
Current Estimated Value
$2,131,299

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$281,299
Avg. Annual Appreciation
2.41%
Original Mortgage
$1,665,000
Outstanding Balance
$1,465,998
Interest Rate
3.75%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$665,301

Purchase Details

Closed on
Jul 10, 2003
Sold by
Reich David and Reich Lourdes
Bought by
Stathes Milton and Stathis Michael

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$265,000
Interest Rate
6.22%
Mortgage Type
Commercial

Purchase Details

Closed on
Apr 19, 1999
Sold by
Ryan John J
Bought by
Reich David and Reich Lourdes

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$110,000
Interest Rate
6.88%
Mortgage Type
Seller Take Back
Source: Public Records

Range of Values:

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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
2503 Lic Inc $1,850,000 --
2503 Lic Inc $1,850,000 --
Stathes Milton $365,000 --
Stathes Milton $365,000 --
Reich David $125,000 Fidelity National Title Ins
Reich David $125,000 Fidelity National Title Ins
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 2503 Lic Inc $1,665,000
Closed 2503 Lic Inc $1,665,000
Previous Owner Stathes Milton $265,000
Previous Owner Reich David $110,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
11/26/2019 11/26/19 Sold $1,850,000 0.0% --
09/13/2019 09/13/19 Pending -- -- --
07/18/2019 07/18/19 Price Changed $1,850,000 -5.1% --
06/17/2019 06/17/19 For Sale $1,950,000 -- --
Source: OneKey® MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $31,552 $147,460 $27,563 $119,897
2024 $30,099 $297,882 $44,622 $253,260
2023 $26,688 $251,965 $35,245 $216,720
2022 $15,002 $338,850 $54,000 $284,850
2021 $17,307 $355,950 $54,000 $301,950
2020 $13,005 $415,800 $26,100 $389,700
2019 $13,848 $378,000 $26,100 $351,900
2018 $12,931 $101,666 $1,900 $99,766
2017 $11,973 $94,136 $1,935 $92,201
2016 $11,237 $94,136 $1,935 $92,201
2015 $7,295 $87,165 $1,690 $85,475
2014 $7,295 $84,462 $1,964 $82,498
Source: Public Records

Agents Affiliated with this Home

  • Bart Olszewski

    Seller's Agent in 2019

    Bart Olszewski

    Sold By Bart R E Partners Inc

    (917) 449-4101

    117 Total Sales

    Bart Olszewski
    Section Image
  • Michael Marek

    Seller Co-Listing Agent in 2019

    Michael Marek

    Sold By Bart R E Partners Inc

    (917) 455-2950

    126 Total Sales

    Michael Marek
    Section Image
  • Shameer Fazal

    Buyer's Agent in 2019

    Shameer Fazal

    Keller Williams Landmark II

    (917) 836-3283

    57 Total Sales

    Shameer Fazal
    Section Image
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Map

Source: OneKey® MLS

MLS Number: KEY3139043

OneKey® MLS

APN: 00396-0101

New York Queens County Long Island City 11101 Long Island City

25-03 40th Ave, Long Island City, NY

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