Office building with commercial space · Long Island City, Queens
48-40 34th Street
Long Island City, NY 11101
48-40 34th Street is a 3-floor office building with commercial space in Long Island City, Queens, built in 1970, with about 75,000 square feet of office space according to city records.
Also at 48-39 33rd Street.
- Office space
- 75K SF
- Floors
- 3
- Year built
- 1970
- Zoning
- M2-1
The 33rd largest of the 37 office buildings we track in Long Island City. Compare it with 6 neighbors
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Compared with its neighbors
How 48-40 34th Street compares
Next to the 6 nearest large office buildings, all within a 11 minute walk, 48-40 34th Street ranks 6th of 7 by office floor area. It went up in 1970; the median neighbor dates from 1921. Its estimated property tax, about $12.59 a square foot of floor area before abatements, is above the neighbors' median of $6.69.
| Building | Office space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 48-40 34th Street | 75K SF | 3 | 1970 | $12.59 | Oct 2009, $11.1M |
| 31-02 47th Avenue | 317K SF | 6 | 1922 | $7.25 | Dec 2016, $258M |
| 47-07 30th Place | 1.0M SF | 10 | 1920 | $6.13 | May 2006, $35.1M |
| 48-02 30th Place | 72K SF | 3 | 1926 | $9.56 | Dec 2025, $34.5M |
| 30-30 Thomson Avenue | 594K SF | 5 | 1919 | $5.03 | n/a |
| 38-01 Queens Boulevard | 152K SF | 12 | 2017 | $1.83 | Jul 2025, $10M |
| 47-37 Austell Place | 136K SF | 5 | 1916 | $10.13 | Nov 2015, $35M |
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 50,000 SF of the building's main use. Walking times are straight-line estimates.
NYC tax lot records
Building facts
- Other address
- 48-39 33rd Street
- ZIP code
- 11101
- Building type
- Office building with commercial space (city class O5)
- Total floor area
- 75,000 SF
- Commercial floor area
- 75,000 SF
- Office
- 75,000 SF
- Height
- 3 floors
- Average floor
- About 25,000 SF (floor area divided by floors)
- Year built
- 1970
- Last major alteration
- 2012
- Lot area
- 30,000 SF
- Zoning district
- M2-1
- Built FAR
- 2.5
- Max commercial FAR
- 2
- Tax lot (BBL)
- 4002550016
Nearest subway
- 33 St-Rawson St
- 40 St-Lowery St
- Queens Plaza
Source: NYC Department of City Planning, PLUTO 26v2, pulled 2026-10-03; addresses from the Property Address Directory (PAD) 26b; subway stations from the MTA Subway Stations dataset, pulled 2026-10-03. 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 E & C PROPERTY HOLDINGS SOUTH, INC. as the owner of record. For tax year 2026/27 the city values 48-40 34th Street at $20 million and assesses it at $9 million. After phase-ins and exemptions its taxable value is $8.7 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 $943,946 a year before abatements, roughly $12.59 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
- E & C PROPERTY HOLDINGS SOUTH, INC.
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $20,010,000
- Land market value
- $1,480,000
- Assessed value
- $9,004,500
- Taxable value (phased in)
- $8,701,570
- Estimated yearly tax
- About $943,946
- Tax per SF of floor area
- About $12.59
City market value by tax year
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 2026-10-03; 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.
NYC property records (ACRIS)
Sales history
48-40 34th Street last sold in October 2009 for $11.1 million, according to the deed recorded with the city. FAIRWAY 34TH STREET, LLC sold it to E & C PROPERTY HOLDINGS SOUTH, INC..
- Last sale (deed date)
- October 15, 2009
- Price
- $11,149,500
- Seller
- FAIRWAY 34TH STREET, LLC
- Buyer
- E & C PROPERTY HOLDINGS SOUTH, INC.
- Deed recorded
- October 23, 2009
- ACRIS document
- 2009101900909001
Recorded sales
Source: NYC Department of Finance, ACRIS, Real Property Master, Legals and Parties, pulled 2026-10-03; 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 energy benchmarking (Local Law 84)
Energy use and emissions
48-40 34th Street's 2024 Local Law 84 benchmarking filing got no ENERGY STAR score (no single use that ENERGY STAR scores covers more than half of the floor area), and Local Law 33 letter grades come from that score, so the filing does not yield an A to D grade. Its site energy use came to 99.9 kBtu per square foot, 97% above the national median of 50.7 for a similar property. Its greenhouse gas emissions were about 697 metric tons of CO2e (9.29 kg per square foot).
- ENERGY STAR score (2024)
- None given
- Property type (Portfolio Manager)
- Vocational School
- Site energy use intensity
- 99.9 kBtu/SF
- National median for the type
- 50.7 kBtu/SF
- Greenhouse gas emissions
- 697 t CO2e
- Emissions per SF
- 9.29 kg CO2e
- Floor area in the filing
- 75,000 SF
Energy sources in 2024
Source: NYC Department of Buildings and Mayor's Office of Climate and Environmental Justice, NYC Building Energy and Water Data Disclosure for Local Law 84 (2024 filing), pulled 2026-10-03; grade cutoffs from the Department of Buildings energy grades page. Figures are as the owner filed them in ENERGY STAR Portfolio Manager.
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Questions about 48-40 34th Street
How big is 48-40 34th Street?
48-40 34th Street has about 75,000 square feet of floor area in total, including 75,000 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 48-40 34th Street built?
City records list 1970 as the year built, with a major alteration recorded in 2012. The building is 3 floors tall.
What other addresses does 48-40 34th Street have?
City records list 48-39 33rd Street on the same tax lot (BBL 4002550016) as 48-40 34th Street. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 48-40 34th Street?
48-40 34th 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 48-40 34th Street, Long Island City, NY 11101.
What is the zoning at 48-40 34th Street?
The lot is in the M2-1 zoning district. PLUTO lists a built floor area ratio (FAR) of 2.5 and a maximum commercial FAR of 2 for this lot.
What subway station is closest to 48-40 34th Street?
The closest subway station to 48-40 34th Street is 33 St-Rawson St (the 7 train), about 0.3 miles away in a straight line, roughly 7 minutes on foot. Also nearby: 40 St-Lowery St (the 7 train), 10 min walk; Queens Plaza (the E, F and R trains), 14 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 48-40 34th Street?
The NYC Department of Finance's 2026/27 assessment roll lists E & C PROPERTY HOLDINGS SOUTH, INC. as the owner of record of 48-40 34th Street (BBL 4002550016). Deeds and mortgages for the lot are public in ACRIS, the city's property records system.
When was 48-40 34th Street last sold?
48-40 34th Street last sold in October 2009 for $11.1 million, according to the deed recorded with the city. FAIRWAY 34TH STREET, LLC sold it to E & C PROPERTY HOLDINGS SOUTH, INC.. The deed is ACRIS document 2009101900909001 (BBL 4002550016) 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.
Does 48-40 34th Street have an energy grade?
48-40 34th Street's 2024 Local Law 84 benchmarking filing got no ENERGY STAR score (no single use that ENERGY STAR scores covers more than half of the floor area), and Local Law 33 letter grades come from that score, so the filing does not yield an A to D grade. Its site energy use came to 99.9 kBtu per square foot, 97% above the national median of 50.7 for a similar property. Its greenhouse gas emissions were about 697 metric tons of CO2e (9.29 kg per square foot).
What are the property taxes at 48-40 34th Street?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $8.7 million for 48-40 34th Street. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $943,946 a year, roughly $12.59 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 4002550016 show the actual bill.
What is the assessed value of 48-40 34th Street?
For tax year 2026/27, the NYC Department of Finance puts the market value of 48-40 34th Street at $20 million ($1.48 million of it land) and its assessed value at $9 million, the 45% of market value the city assesses for Class 4 property. The city's market value fell 3% from 2022/23 ($20.7 million) to 2026/27.
Is there office space for lease at 48-40 34th Street?
No space at 48-40 34th 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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