Office building with commercial space · Long Island City, Queens
50-02 5th Street
Long Island City, NY 11101
50-02 5th Street is a 2-floor office building with commercial space in Long Island City, Queens, built in 1971, with about 38,000 square feet of office space according to city records.
Also at 2-49 51st Avenue and 50-02 to 50-10 5th Street.
- Office space
- 38K SF
- Floors
- 2
- Year built
- 1971
- Zoning
- M1-4/R7A
The 47th largest of the 48 office buildings we track in Long Island City. Compare it with 6 neighbors
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Compared with its neighbors
How 50-02 5th Street compares
Next to the 6 nearest large office buildings, all within a 12 minute walk, 50-02 5th Street is the smallest by office floor area. It went up in 1971; the median neighbor dates from 1923. Its estimated property tax, about $7.08 a square foot of floor area before abatements, is below the neighbors' median of $9.89.
| Building | Office space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 50-02 5th Street | 38K SF | 2 | 1971 | $7.08 | Mar 2011, $10.3M |
| 47-40 21st Street | 180K SF | 10 | 1930 | $9.89 | n/a |
| 10-27 46th Avenue | 47K SF | 4 | 1903 | $11.19 | Sep 2015, $14.3M |
| 21-02 49th Avenue | 115K SF | 7 | 1916 | $9.15 | Mar 2026, $28M |
| 21-01 51st Avenue | 46K SF | 3 | 1913 | $12.96 | n/a |
| 21-09 Borden Avenue | 164K SF | 7 | 1930 | $8.78 | Dec 2025, $21.5M |
| 9-21 44th Road | 44K SF | 3 | 2019 | Exempt | 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
- 2-49 51st Avenue; 50-02 to 50-10 5th Street
- ZIP code
- 11101
- Building type
- Office building with commercial space (city class O5)
- Total floor area
- 50,207 SF
- Commercial floor area
- 37,655 SF
- Office
- 37,655 SF
- Height
- 2 floors
- Year built
- 1971
- Last major alteration
- 2013
- Lot area
- 26,030 SF
- Zoning district
- M1-4/R7A
- Built FAR
- 1.93
- Max commercial FAR
- 2
- Tax lot (BBL)
- 4000160025
Nearest subway
- Vernon Blvd-Jackson Av
- 21 St
- Hunters Point Av
Source: NYC Department of City Planning, PLUTO 26v2, pulled 2026-10-05; addresses from the Property Address Directory (PAD) 26b; subway stations from the MTA Subway Stations dataset, pulled 2026-10-05. 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 FIFTH STREET REAL ESTATE COMPANY LLC as the owner of record. For tax year 2026/27 the city values 50-02 5th Street at $7.71 million and assesses it at $3.47 million. After phase-ins and exemptions its taxable value is $3.28 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 $355,341 a year before abatements, roughly $7.08 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
- FIFTH STREET REAL ESTATE COMPANY LLC
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $7,709,000
- Land market value
- $1,952,000
- Assessed value
- $3,469,050
- Taxable value (phased in)
- $3,275,640
- Estimated yearly tax
- About $355,341
- Tax per SF of floor area
- About $7.08
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 2026-10-09; 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.
Own or manage 50-02 5th Street? List a space here free and we match it against every active requirement.
NYC property records (ACRIS)
Sales history
50-02 5th Street last sold in March 2011 for $10.3 million, according to the deed recorded with the city. E J & P, L.L.C. sold it to FIFTH STREET REAL ESTATE COMPANY LLC.
- Last sale (deed date)
- March 15, 2011
- Price
- $10,250,000
- Seller
- E J & P, L.L.C.
- Buyer
- FIFTH STREET REAL ESTATE COMPANY LLC
- Deed recorded
- April 19, 2011
- ACRIS document
- 2011040700356001
Source: NYC Department of Finance, ACRIS, Real Property Master, Legals and Parties, pulled 2026-10-09; 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 score, grade and emissions
50-02 5th Street reported an ENERGY STAR score of 68 out of 100 for 2024 in its Local Law 84 benchmarking filing. Under Local Law 33 that score earns a C (55 to 69). Its site energy use came to 54.8 kBtu per square foot, 23% below the national median of 71.4 for a similar property. Its greenhouse gas emissions were about 286 metric tons of CO2e (5.32 kg per square foot).
- ENERGY STAR score (2024)
- 68 of 100
- Grade this score earns (Local Law 33)
- C (55 to 69)
- Property type (Portfolio Manager)
- Office
- Site energy use intensity
- 54.8 kBtu/SF
- National median for the type
- 71.4 kBtu/SF
- Greenhouse gas emissions
- 286 t CO2e
- Emissions per SF
- 5.32 kg CO2e
- Floor area in the filing
- 53,721 SF
ENERGY STAR score by year
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 2026-10-09; grade cutoffs from the Department of Buildings energy grades page. Figures are as the owner filed them in ENERGY STAR Portfolio Manager. The grade is the one the filed score earns under the law's cutoffs; the Department of Buildings assigns the grade a building posts, which can differ.
Local Law 97 of 2019, estimated
Local Law 97 emissions limit
At its 2024 energy use, 50-02 5th Street comes to about 222 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 407 tons for 2024 to 2029 (55% of the limit), so it would owe no penalty. From 2030 the limit drops to 145 tons and the same energy use counts as about 134 tons, still under the limit.
- Period
- 2024 to 2029
- Emissions limit
- 407 t CO2e
- Estimated emissions
- 222 t CO2e
- Under the limit by
- 185 t CO2e
- Estimated penalty a year
- None
- Period
- 2030 to 2034
- Emissions limit
- 145 t CO2e
- Estimated emissions
- 134 t CO2e
- Under the limit by
- 10 t CO2e
- Estimated penalty a year
- None
Estimated from the owner's 2024 Local Law 84 filing, which reports energy by source and floor area by use: Office 53,721 SF. It applies the coefficients and per-use limits in Department of Buildings rule 1 RCNY 103-14 and Administrative Code 28-320.3.1.1 (as the Department lists them) and the $268 per ton penalty, checked 2026-10-04. It is not the building's Local Law 97 report: that report can count renewable energy credits, solar and storage deductions and, for 2024 and 2025, the law's occupancy group limits where higher, and penalties can be reduced for good faith efforts.
Change these numbers in the Local Law 97 calculator to see what a cut in energy use would do to the penalty.
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Questions about 50-02 5th Street
How big is 50-02 5th Street?
50-02 5th Street has about 50,000 square feet of floor area in total, including 38,000 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 50-02 5th Street built?
City records list 1971 as the year built, with a major alteration recorded in 2013. The building is 2 floors tall.
What other addresses does 50-02 5th Street have?
City records list 2-49 51st Avenue and 50-02 to 50-10 5th Street on the same tax lot (BBL 4000160025) as 50-02 5th Street. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 50-02 5th Street?
50-02 5th 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 50-02 5th Street, Long Island City, NY 11101.
What is the zoning at 50-02 5th Street?
The lot is in the M1-4/R7A zoning district. PLUTO lists a built floor area ratio (FAR) of 1.93 and a maximum commercial FAR of 2 for this lot.
What subway station is closest to 50-02 5th Street?
The closest subway station to 50-02 5th Street is Vernon Blvd-Jackson Av (the 7 train), about 900 feet away in a straight line, roughly 3 minutes on foot. Also nearby: 21 St (the G train), 8 min walk; Hunters Point Av (the 7 train), 8 min walk. Walking times are straight-line estimates; the street route is longer.
Who owns 50-02 5th Street?
The NYC Department of Finance's 2026/27 assessment roll lists FIFTH STREET REAL ESTATE COMPANY LLC as the owner of record of 50-02 5th Street (BBL 4000160025). 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 50-02 5th Street last sold?
50-02 5th Street last sold in March 2011 for $10.3 million, according to the deed recorded with the city. E J & P, L.L.C. sold it to FIFTH STREET REAL ESTATE COMPANY LLC. The deed is ACRIS document 2011040700356001 (BBL 4000160025) 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.
What is the energy grade of 50-02 5th Street?
50-02 5th Street reported an ENERGY STAR score of 68 for calendar year 2024 in its Local Law 84 benchmarking filing. Under Local Law 33, as amended by Local Law 95 of 2019, a score of 85 or higher earns an A, 70 to 84 a B, 55 to 69 a C and under 55 a D, so 68 earns a C. The Department of Buildings assigns the grade a building posts, so the posted label can differ if a filing was corrected. Its site energy use came to 54.8 kBtu per square foot, 23% below the national median of 71.4 for a similar property. Its greenhouse gas emissions were about 286 metric tons of CO2e (5.32 kg per square foot).
Does 50-02 5th Street meet Local Law 97?
At its 2024 energy use, 50-02 5th Street comes to about 222 metric tons of CO2e a year under Local Law 97's coefficients, against a limit of 407 tons for 2024 to 2029 (55% of the limit), so it would owe no penalty. From 2030 the limit drops to 145 tons and the same energy use counts as about 134 tons, still under the limit. This is an estimate from the owner's 2024 benchmarking filing using the coefficients and per-use limits in the law and the Department of Buildings rule, at $268 per ton over. It is not the building's Local Law 97 report, which can count credits and deductions this estimate cannot.
What are the property taxes at 50-02 5th Street?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $3.28 million for 50-02 5th Street. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $355,341 a year, roughly $7.08 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 4000160025 show the actual bill.
What is the assessed value of 50-02 5th Street?
For tax year 2026/27, the NYC Department of Finance puts the market value of 50-02 5th Street at $7.71 million ($1.95 million of it land) and its assessed value at $3.47 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 8% from 2022/23 ($7.16 million) to 2026/27.
Is there office space for lease at 50-02 5th Street?
No space at 50-02 5th 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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