# 50-09 5th Street, Queens

Condominium · 17 units · built 2022 · Block 33, Lot 7504.

On Umarelli: https://umarelli.org/nyc/4000337504/50-09-5-street

More construction in Long Island City: https://umarelli.org/nyc/queens/long-island-city.md

## Building permits

- New Building — Multi-Family, filed Mar 3, 2021, estimated cost $3.7M, 17 units, 6 stories, described as “Proposed new 6 story residential building”
- Alteration, filed Jun 21, 2023, estimated cost $5K, described as “Filing for curb cut in conjunction with Q00479675”
- Alteration, filed Jan 9, 2023, estimated cost $20K, described as “Installation of temporary needle beam as per plans. Work shall comply with chapter #33 of the NYC building code. No change in use, occupancy, or egress under this application.”
- Alteration, filed Nov 28, 2022, estimated cost $9K, described as “Proposed installation of 300 psf sidewalk shed and pipe scaffolding as per plans. All equipment shall comply with chapter #33 of the 2014 code. No change in use, egress or occupancy under this application.”
- Alteration, filed Apr 21, 2022, estimated cost $5K, described as “Installation of pipe scaffolding as per plans during construction. No change in use, egress or occupancy. Pipe scaffolding shall comply with chapter 33 of NYC building code of 2014.”
- Alteration, filed Mar 3, 2022, estimated cost $5K, described as “Installation of heavy duty sidewalk shed as per plans. Sidewalk shed shall comply with chapter #33 of the 2014 code. No change in use, egress or occupancy under this application.”
- Alteration, filed Feb 14, 2022, described as “File earth work in conjunction with approved application # Q00479675”

## Property taxes

- Assessment: $2,055,599
- 2026–27 tax: $200,196
- Market value (city estimate): $4,568,002
- Taxable value: $1,950,820
- Assessed land: $308,699
- Assessed improvements: $1,746,900
- Condo units with their own tax lots: 17

## Tax breaks

- Co-op and condo abatement, with no end date, a $42,466 credit this tax year.

## Zoning

M1-4/R6A: floor area ratio 2.62 built, 3.00 allowed by base zoning.

## Recent sales

- Jun 5, 2026: $828,000, Apt 4D
- Apr 12, 2024: $1,201,535, Apt 5C
- Feb 2, 2024: $943,918, Apt PH1
- Jan 29, 2024: $1,162,350, Apt 2A
- Jan 26, 2024: $1,768,497, Apt 1A
- Jan 24, 2024: $1,176,079, Apt 4B
- Jan 22, 2024: $1,179,313, Apt 3B
- Jan 22, 2024: $798,766, Apt 5A
- Jan 22, 2024: $786,955, Apt 5D
- Jan 19, 2024: $1,222,350, Apt 5B

The 10 most recent of 18 open-market sales since 2016, from the Department of Finance’s sales files.

## Flood zone

Current FEMA flood map: zone AE, high risk: a 1% chance of flooding each year, base flood elevation 10 ft (NGVD29). FEMA’s preliminary map: zone AE, high risk: a 1% chance of flooding each year, base flood elevation 11 ft (NAVD88).

## In the news

[The Alchemy Completes Construction at 50-07 5th Street in Long Island City, Queens](https://newyorkyimby.com/2024/06/the-alchemy-completes-construction-at-50-07-5th-street-in-long-island-city-queens.html), New York YIMBY, Jun 9, 2024.

From New York City and Jersey City public records, refreshed within a day of each release. Sources: https://umarelli.org/sources. Methodology and corrections: https://umarelli.org/methodology