Office building · Woodside, Queens

48-02 25th Avenue

Queens, NY 11103

48-02 25th Avenue is a 4-floor office building in Woodside, Queens, built in 1930, with about 89,000 square feet of office space according to city records.

Also at 48-02 to 48-20 25th Avenue, 25-01 to 25-11 48th Street and 25-02 to 25-20 49th Street.

Office space: 89K SF
Floors: 4
Year built: 1930
Zoning: M1-1

Office space next to its nearest neighbors

48-02 25th AvenueThis building89K SF
31-21 Newtown Avenue16 min walk67K SF
25-20 Borough Place3 min walk45K SF
23-25 31st Street15 min walk45K SF

Compare it with 3 neighbors

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Compared with its neighbors

How 48-02 25th Avenue compares

Next to the 3 nearest large office buildings, all within a 16 minute walk, 48-02 25th Avenue is the largest by office floor area. Built in 1930, it is the oldest of them. Its estimated property tax, about $5.89 a square foot of floor area before abatements, is above the neighbors' median of $1.26.

48-02 25th Avenue and the 3 nearest large office buildings: size, floors, year built, estimated property tax per square foot and last sale
Building	Office space	Floors	Built	Tax / SF	Last sale
48-02 25th AvenueThis building	89K SF	4	1930	$5.89	May 2016, $16M
25-20 Borough Place3 min walk	45K SF	2	1965	$3.77	Dec 2007, $13.7M
23-25 31st Street15 min walk	45K SF	8	2012	$1.26	n/a
31-21 Newtown Avenue16 min walk	67K SF	10	2011	$1.24	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

Other addresses: 48-02 to 48-20 25th Avenue; 25-01 to 25-11 48th Street; 25-02 to 25-20 49th Street
ZIP code: 11103
Building type: Office building (city class O2)
Total floor area: 100,749 SF
Commercial floor area: 100,749 SF
Office: 89,000 SF
Height: 4 floors
Average floor: About 25,200 SF (floor area divided by floors)
Year built: 1930
Last major alteration: 2006
Lot area: 34,055 SF
Zoning district: M1-1
Built FAR: 2.96
Max commercial FAR: 1
Tax lot (BBL): 4007440040

Nearest subway

46 St14 min walk · Not accessible

Nearby large buildings

25-15 50th Street85K SF industrial and storage · 2 floors · 2 min walk
24-01 Brooklyn Queens Expressway West110K SF industrial and storage · 2 floors · 3 min walk
26-45 Brooklyn Queens Expressway West68K SF industrial and storage · 2 floors · 6 min walk
22-25 46th Street73K SF industrial and storage · 3 floors · 7 min walk
62-05 30th Avenue102K SF industrial and storage · 2 floors · 7 min walk
43-02 Ditmars Boulevard87K SF retail · 3 floors · 8 min walk
57-07 31st Street291K SF industrial and storage · 1 floor · 9 min walk
48-11 20th Avenue130K SF industrial and storage · 2 floors · 16 min walk

All 10 large industrial buildings on 48th Street

Source: NYC Department of City Planning, PLUTO 26v2, pulled 2026-10-16; addresses from the Property Address Directory (PAD) 26b; 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 storefront registry (Local Law 157)

Storefronts and vacancy

Owners registered 2 storefronts at 48-02 25th Avenue for December 31, 2025, the newest annual filing the city has published, and none stood vacant that day.

Storefronts registered for December 31, 2025: 2
Vacant that day: 0
Share vacant across Woodside: 3.4%
Share vacant citywide: 9.2%

Vacant on December 31, by year

20190 of 2
20200 of 2
20210 of 2
20220 of 2
20230 of 2
20240 of 2
20250 of 2

Bars show the share of the lot's registered storefronts that stood vacant.

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Source: NYC Department of Finance, Storefronts Reported Vacant or Not (Local Law 157), annual filings for 2019 to 2025, pulled 2026-10-16. Owners of buildings with ground- or second-floor storefronts register each one every year with its status on December 31; counts are by tax lot, as the owners filed them. The 2025 filing was due June 1, 2026, so a storefront vacant then may have been leased since. A vacant storefront is not always on the market, and none here is listed on Leasemark unless it shows above.

NYC Department of Finance records

Owner, property tax and assessed value

The Department of Finance lists M25 PROPERTIES LLC as the owner of record. For tax year 2026/27 the city values 48-02 25th Avenue at $13.1 million and assesses it at $5.91 million. After phase-ins and exemptions its taxable value is $5.47 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 $593,866 a year before abatements, roughly $5.89 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: M25 PROPERTIES LLC
Tax class: Class 4 (commercial and industrial)
City market value: $13,140,000
Land market value: $2,724,000
Assessed value: $5,913,000
Taxable value (phased in): $5,474,430
Estimated yearly tax: About $593,866
Tax per SF of floor area: About $5.89

City market value by tax year

2022/23$11.2 million
2023/24$11.7 million
2024/25$12.1 million
2025/26$12.7 million
2026/27$13.1 million

Market value rose 18% from 2022/23 ($11.2 million) to 2026/27.

How Woodside compares: property tax per SF across NYC neighborhoods Estimate this tax bill, or a tenant's share of it How NYC commercial property tax works

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How to find who owns any NYC building

Source: 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

Last sale (deed date): May 9, 2016
Price: $16,000,000
Price per SF of floor area: About $159
Seller: SILVERRAY REALTY LLC and SUNSHINE AFFORDABLE RESIDENCES LLC
Buyer: M25 PROPERTIES LLC
Deed recorded: May 23, 2016
ACRIS document: 2016051300968004

Recorded sales

May 2016$16 million
July 2005$4.1 million

All 3 building sales in Woodside since 2016

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.

NYC Department of Buildings permits

Work permits and build-outs

New jobs, last 12 months: 1
Initial permits, last 12 months: 1
Newest job first permitted: January 2026
Interior build-outs, last 24 months: 1
Floors with interior work, last 24 months: 3

Recent build-outs

Floor 3January 2026Construction; est. $150,000

New jobs by year

20210
20222
20234
20240
20250
2026 to date1

Build-outs across Woodside Where 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.

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Questions about 48-02 25th Avenue

How big is 48-02 25th Avenue?

48-02 25th Avenue has about 101,000 square feet of floor area in total, including 89,000 square feet of office, according to NYC PLUTO 26v2. These are the city's estimates for the whole building, not space that is available.

When was 48-02 25th Avenue built?

City records list 1930 as the year built, with a major alteration recorded in 2006. The building is 4 floors tall.

What other addresses does 48-02 25th Avenue have?

City records list 48-02 to 48-20 25th Avenue, 25-01 to 25-11 48th Street and 25-02 to 25-20 49th Street on the same tax lot (BBL 4007440040) as 48-02 25th Avenue. A space listed on Leasemark at any of these addresses shows up on this page.

What is the ZIP code of 48-02 25th Avenue?

48-02 25th Avenue is in ZIP code 11103, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 48-02 25th Avenue, Queens, NY 11103, in Woodside.

What is the zoning at 48-02 25th Avenue?

The lot is in the M1-1 zoning district. PLUTO lists a built floor area ratio (FAR) of 2.96 and a maximum commercial FAR of 1 for this lot.

What subway station is closest to 48-02 25th Avenue?

The closest subway station to 48-02 25th Avenue is 46 St (the M and R trains), about 0.7 miles away in a straight line, roughly 14 minutes on foot. Walking times are straight-line estimates; the street route is longer.

Who owns 48-02 25th Avenue?

The NYC Department of Finance's 2026/27 assessment roll lists M25 PROPERTIES LLC as the owner of record of 48-02 25th Avenue (BBL 4007440040). 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 48-02 25th Avenue last sold?

48-02 25th Avenue last sold in May 2016 for $16 million, according to the deed recorded with the city. SILVERRAY REALTY LLC and SUNSHINE AFFORDABLE RESIDENCES LLC sold it to M25 PROPERTIES LLC. That comes to about $159 per square foot of floor area. The deed is ACRIS document 2016051300968004 (BBL 4007440040) 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 48-02 25th Avenue?

In the 12 months to October 2026, the Department of Buildings issued first permits for 1 job at 48-02 25th Avenue. In the last two years, interior work was permitted on one floor (floor 3). The newest build-out, on floor 3, was first permitted in January 2026 (construction; filed cost estimate $150,000). These are the Department of Buildings' DOB NOW work permits for tax lot 4007440040. 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 48-02 25th Avenue?

The Department of Finance's 2026/27 assessment roll lists a taxable value of $5.47 million for 48-02 25th Avenue. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $593,866 a year, roughly $5.89 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 4007440040 show the actual bill.

What is the assessed value of 48-02 25th Avenue?

For tax year 2026/27, the NYC Department of Finance puts the market value of 48-02 25th Avenue at $13.1 million ($2.72 million of it land) and its assessed value at $5.91 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 18% from 2022/23 ($11.2 million) to 2026/27.

Are there vacant storefronts at 48-02 25th Avenue?

Owners registered 2 storefronts at 48-02 25th Avenue for December 31, 2025, the newest annual filing the city has published, and none stood vacant that day. These are the owners' filings with the Department of Finance under Local Law 157, so a storefront may have come free since. Owners and brokers can list a storefront on Leasemark for free.

Is there office space for lease at 48-02 25th Avenue?

No space at 48-02 25th Avenue 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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