$920,000 Sold Aug 2026 · Unit 27A
$102,461,000 Assessed value
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| Building size | 724,475 sq ft |
|---|---|
| Building dimensions | 156 × 400 ft |
| Stories | 42 |
| Basement / garden level | No |
| Sq ft per floor | 17,249 sq ft |
| Year built | 1996 |
| Lot dimensions | 156 × 458.78 ft |
|---|---|
| Lot area | 80,634 sq ft |
| Units | 536 |
|---|---|
| Zoning | M3-1 |
| Building class | D4 |
| Ownership | Co-op building |
| Block / lot | Block 18 / Lot 1 |
| Built FAR | 8.98 |
|---|---|
| Max commercial FAR | 2.00 |
| Last recorded sale | $920,000 (Aug 2026) |
|---|---|
| Assessed value | $102,461,000 |
| Tax class | 2 |
| Annual property tax | $5,735,306 |
| Exemptions / abatements | QUEENS WEST DEVELOPME (expires ~2028) |
| Rent regulated | Co-op |
Terms on this page, explained →
4-74 48 Avenue was built in 1996 — roughly 30 years old. This is a co-op building with 522 apartments — residents own shares in the corporation that owns the building, rather than their apartments outright. Apartments average about 1,388 sq ft (building area divided by apartment count — individual units vary). For property-tax purposes it falls under Class 2 (residential buildings with four or more units, condos and co-ops), taxed at 12.439% of a taxable value based on 45% of the city’s income-derived market value. The corporation pays one building-wide tax bill — about $5,735,306 per year — passed to residents through monthly maintenance in proportion to each apartment’s share allocation. A straight average works out to roughly $10,987 per apartment per year, though larger apartments carry more shares (and many primary residents get the co-op/condo abatement on top). The most recent recorded sale in the building was unit 27A, for $920,000 in Aug 2026.
The building already exceeds what current residential zoning would allow (8.98 built FAR vs. a residential maximum of 2.00) — typically a grandfathered or overbuilt structure that could not be rebuilt to this size under today’s rules. Those figures are for residential use — the lot also carries a commercial allowance of 2.00 FAR. This lot is associated with a co-op; individual apartments are owned as shares and taxed through the building.
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Data: NYC Department of Finance and Dept. of City Planning (PLUTO) via NYC Open Data. Figures are public records, may lag current bills, and can exclude abatements. Not financial advice.