The Queens walk-up building closed at approximately 98% of its $4.7 million asking price, with the property marketed as fully leased.
-- Jonathan Mines of The Mines Group announced the $4.62 million sale of 44-73 21st Street, a 25-unit walk-up multifamily building in Long Island City, Queens. The approximately 20,312-square-foot property was available as fully leased, with a location near Court Square transit and within walking distance of the 7 train.
The building had been marketed at approximately $4.7 million. Its $4,620,000 closing price represented approximately 98% of that asking price, or $184,800 per apartment and approximately $227 per square foot, based on the unit count and building size reported in the listing materials.
Long Island City Apartment Sale Highlights
- Property: 44-73 21st Street, Long Island City, Queens, New York.
- Sale price: $4,620,000.
- Building: 25 apartments across approximately 20,312 square feet, according to marketing materials.
- Occupancy: Described as fully leased when marketed.
- Broker: Jonathan Mines of The Mines Group.
44-73 21st Street represents an established segment of Long Island City’s housing stock: older walk-up apartment buildings located alongside the neighborhood’s newer residential development.
In an April 2026 interview about the assignment, Mines discussed the property within that broader neighborhood context. His presentation emphasized that Long Island City’s multifamily investment market extends beyond recently constructed towers to include existing apartment buildings with established tenancy and access to Manhattan-bound transportation.
For 44-73 21st Street, the marketing centered on the building’s full occupancy, proximity to Court Square and potential investment upside. The completed sale provides a property-specific transaction reference for owners and investors evaluating comparable walk-up multifamily assets in Long Island City.
Property-Level Details Shape Multifamily Investment Decisions
The transaction illustrates the importance of evaluating individual buildings within a changing neighborhood. While transit access and surrounding development help establish location context, buyers assessing older multifamily properties must also consider building condition, operating expenses, tenancy, applicable rent regulations and documented income.
The reported price per apartment and price per square foot offer additional ways to examine this sale. Those figures provide transaction context; comparisons with other buildings require consideration of each property’s financial and physical characteristics.
About the company: The Mines Group advises New York City multifamily and mixed-use property owners on investment sales, property valuation and presale strategy. Led by Jonathan Mines, the firm brings more than two decades of commercial real estate experience to helping owners evaluate their buildings, understand market conditions and prepare for successful transactions.
Contact Info:
Name: Jonathan Mines
Email: Send Email
Organization: The Mines Group
Address: New York New York
Phone: 646-325-6239
Website: https://nycmultifamilybroker.com/
Release ID: 89207013
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