Warehouse · Long Island City, Queens
42-61 24th Street
Long Island City, NY 11101
42-61 24th Street is a 5-floor warehouse in Long Island City, Queens, built in 1929, with about 76,000 square feet of industrial and storage space according to city records.
- Industrial and storage space
- 76K SF
- Floors
- 5
- Year built
- 1929
- Zoning
- M1-6/R10
The 43rd largest of the 102 industrial and storage buildings we track in Long Island City. Compare it with 6 neighbors
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Compared with its neighbors
How 42-61 24th Street compares
Next to the 6 nearest large industrial and storage buildings, all within a 5 minute walk, 42-61 24th Street ranks 2nd of 7 by industrial and storage floor area. It went up in 1929; the median neighbor dates from 1931. Its estimated property tax, about $3.80 a square foot of floor area before abatements, is above the neighbors' median of $3.52.
| Building | Industrial and storage space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 42-61 24th Street | 76K SF | 5 | 1929 | $3.80 | Jan 2022, $40.1M (2 lots) |
| 23-10 Queens Plaza South | 108K SF | 4 | 1920 | $2.44 | Nov 2019, $27.5M |
| 21-30 44th Road | 54K SF | 3 | 1920 | $4.54 | n/a |
| 21-11 44th Avenue | 37K SF | 3 | 1931 | $2.53 | n/a |
| 43-10 21st Street | 37K SF | 2 | 1931 | $4.52 | Mar 2026, $14.5M |
| 44-01 21st Street | 50K SF | 3 | 1931 | $2.19 | n/a |
| 21-21 44th Drive | 41K SF | 2 | 1947 | $4.87 | n/a |
Sources: NYC Department of City Planning, PLUTO 26v2 for size, floors and year built; NYC Department of Finance 2026/27 roll for tax (taxable value times the class rate, before abatements, over the whole floor area); ACRIS for the last deed that moved the whole lot for a real price (a price for several lots is their combined price; condominiums sell by the unit and show n/a). Large means at least 35,000 SF of the building's main use. Walking times are straight-line estimates.
NYC tax lot records
Building facts
- ZIP code
- 11101
- Building type
- Warehouse (city class E1)
- Total floor area
- 76,000 SF
- Commercial floor area
- 76,000 SF
- Industrial and storage
- 76,000 SF
- Height
- 5 floors
- Average floor
- About 15,200 SF (floor area divided by floors)
- Year built
- 1929
- Lot area
- 20,860 SF
- Zoning district
- M1-6/R10
- Built FAR
- 3.64
- Max commercial FAR
- 10
- Tax lot (BBL)
- 4004290003
Nearest subway
- Queensboro Plaza
- Court Sq
- Queens Plaza
Source: NYC Department of City Planning, PLUTO 26v2, pulled 2026-10-16; subway stations from the MTA Subway Stations dataset, pulled 2026-10-16. Floor areas are the city's estimates for the whole building, not available space. Walking times are straight-line estimates. How we build these pages. Something wrong on this page? Tell us.
NYC Department of Finance records
Owner, property tax and assessed value
The Department of Finance lists GS TOWER LLC as the owner of record. For tax year 2026/27 the city values 42-61 24th Street at $6.36 million and assesses it at $2.86 million. After phase-ins and exemptions its taxable value is $2.66 million; at the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists) that comes to about $288,649 a year before abatements, roughly $3.80 per square foot of floor area. Commercial leases here often pass a tenant's share of tax increases over a base year through as additional rent.
- Owner of record
- GS TOWER LLC
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $6,359,000
- Land market value
- $1,281,000
- Assessed value
- $2,861,550
- Taxable value (phased in)
- $2,660,850
- Estimated yearly tax
- About $288,649
- Tax per SF of floor area
- About $3.80
City market value by tax year
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How to find who owns any NYC buildingSource: NYC Department of Finance, Property Valuation and Assessment Data (2026/27 roll; owner names as the roll records them, which cuts some long names short), pulled 2026-10-16; tax rate from the Department of Finance tax rates page, checked 2026-09-28. The estimate is the taxable value times the class rate. It leaves out abatements, payment-in-lieu-of-taxes agreements and charges, so the actual bill can differ.
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NYC property records (ACRIS)
Sales history
42-61 24th Street last sold in January 2022 in a $40.1 million sale that covered 2 tax lots, this one among them, according to the deed recorded with the city. AB MARBEC REALTY CORP. sold it to GS TOWER LLC.
- Last sale (deed date)
- January 26, 2022
- Combined price
- $40,100,000 for 2 tax lots
- Seller
- AB MARBEC REALTY CORP.
- Buyer
- GS TOWER LLC
- Deed recorded
- February 11, 2022
- ACRIS document
- 2022020400512001
Source: NYC Department of Finance, ACRIS, Real Property Master, Legals and Parties, pulled 2026-10-16; prices as the deeds state them, names as recorded (companies and public bodies only). Shown are deeds that move the whole lot for a real price. Transfers between related companies for a nominal sum, sales of partial interests, land sales before the building went up and sales of the company that owns a building are left out; a price for several tax lots is the combined price, not this building's alone.
NYC Department of Buildings permits
Work permits and build-outs
The Department of Buildings issued no permits for new jobs at 42-61 24th Street in the 12 months to October 2026; the last one was first permitted in September 2025. In the last two years, interior work was permitted on 2 floors (floors 1 and 2). The newest build-out, on floors 1 and 2, was first permitted in September 2025 (sprinklers; filed cost estimate $3,000).
- New jobs, last 12 months
- 0
- Initial permits, last 12 months
- 0
- Newest job first permitted
- September 2025
- Interior build-outs, last 24 months
- 1
- Floors with interior work, last 24 months
- 1 and 2
- Facade and sidewalk jobs, last 24 months
- 4
Recent build-outs
New jobs by year
Build-outs across Long Island CityWhere NYC offices are being built out
Source: NYC Department of Buildings, DOB NOW: Build Approved Permits, pulled 2026-10-24 (permits issued through 2026-10-22). A job counts once, when its first permit is issued; renewals are not new work. A build-out groups jobs on the same floors first permitted within 120 days of each other. Costs are the estimates filed with the jobs. Jobs filed before DOB NOW (in the older BIS system) are not counted. A permit is approval to do the work; it does not say who the work is for or whether it is finished.
No industrial and storage space listed in Long Island City yet
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Questions about 42-61 24th Street
How big is 42-61 24th Street?
42-61 24th Street has about 76,000 square feet of floor area in total, including 76,000 square feet of industrial and storage space, according to NYC PLUTO 26v2. These are the city's estimates for the whole building, not space that is available.
When was 42-61 24th Street built?
City records list 1929 as the year built. The building is 5 floors tall.
What is the ZIP code of 42-61 24th Street?
42-61 24th Street is in ZIP code 11101, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 42-61 24th Street, Long Island City, NY 11101.
What is the zoning at 42-61 24th Street?
The lot is in the M1-6/R10 zoning district. PLUTO lists a built floor area ratio (FAR) of 3.64 and a maximum commercial FAR of 10 for this lot.
What subway station is closest to 42-61 24th Street?
The closest subway station to 42-61 24th Street is Queensboro Plaza (the 7, N and W trains), about 750 feet away in a straight line, roughly 3 minutes on foot. The MTA lists it as an accessible station. Also nearby: Court Sq (the 7, G, E and F trains, connected to Court Sq-23 St), 4 min walk; Queens Plaza (the E, F and R trains), 5 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 42-61 24th Street?
The NYC Department of Finance's 2026/27 assessment roll lists GS TOWER LLC as the owner of record of 42-61 24th Street (BBL 4004290003). Big buildings are usually held through a company set up for that one property, so the name on the roll can differ from the landlord's brand or the managing agent. Deeds and mortgages for the lot are public in ACRIS, the city's property records system.
When was 42-61 24th Street last sold?
42-61 24th Street last sold in January 2022 in a $40.1 million sale that covered 2 tax lots, this one among them, according to the deed recorded with the city. AB MARBEC REALTY CORP. sold it to GS TOWER LLC. The deed is ACRIS document 2022020400512001 (BBL 4004290003) in the city's property records. A sale of the company that owns a building is not recorded as a deed, so it would not show there.
Is there construction at 42-61 24th Street?
The Department of Buildings issued no permits for new jobs at 42-61 24th Street in the 12 months to October 2026; the last one was first permitted in September 2025. In the last two years, interior work was permitted on 2 floors (floors 1 and 2). The newest build-out, on floors 1 and 2, was first permitted in September 2025 (sprinklers; filed cost estimate $3,000). These are the Department of Buildings' DOB NOW work permits for tax lot 4004290003. A permit is approval to do the work; it does not say who the work is for or whether it is finished.
What are the property taxes at 42-61 24th Street?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $2.66 million for 42-61 24th Street. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $288,649 a year, roughly $3.80 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 4004290003 show the actual bill.
What is the assessed value of 42-61 24th Street?
For tax year 2026/27, the NYC Department of Finance puts the market value of 42-61 24th Street at $6.36 million ($1.28 million of it land) and its assessed value at $2.86 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 32% from 2022/23 ($4.82 million) to 2026/27.
Is there industrial and storage space for lease at 42-61 24th Street?
No space at 42-61 24th Street is listed on Leasemark right now. Owners and brokers can list space here for free, and tenants can post a requirement to be matched when space opens up.
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