Warehouse · Maspeth, Queens
57-03 48th Street
Maspeth, NY 11378
57-03 48th Street is a 1-floor warehouse in Maspeth, Queens, built in 1986, with about 40,000 square feet of industrial and storage space according to city records.
Also at 58-07 48th Street.
- Industrial and storage space
- 40K SF
- Floors
- 1
- Year built
- 1986
- Zoning
- M3-1
The 52nd largest of the 63 industrial and storage buildings we track in Maspeth. Compare it with 6 neighbors
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Compared with its neighbors
How 57-03 48th Street compares
Next to the 6 nearest large industrial and storage buildings, all within a 2 minute walk, 57-03 48th Street ranks 6th of 7 by industrial and storage floor area. Built in 1986, it is the newest of them. Its estimated property tax, about $5.45 a square foot of floor area before abatements, is above the neighbors' median of $4.74.
| Building | Industrial and storage space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 57-03 48th Street | 40K SF | 1 | 1986 | $5.45 | Jan 2010, $11M |
| 56-45 48th Street | 56K SF | 1 | 1963 | Exempt | n/a |
| 57-10 49th Place | 81K SF | 2 | 1963 | $4.74 | n/a |
| 57-47 47th Street | 71K SF | 1 | 1960 | $4.56 | Jan 2019, $22.1M |
| 57-00 49th Place | 59K SF | 2 | 1964 | $6.66 | Dec 2017, $23M |
| 57-48 49th Place | 49K SF | 1 | 1963 | $4.42 | n/a |
| 56-35 48th Street | 35K SF | 1 | 1965 | $5.20 | 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 address
- 58-07 48th Street
- ZIP code
- 11378
- Building type
- Warehouse (city class E1)
- Total floor area
- 42,064 SF
- Commercial floor area
- 42,064 SF
- Office
- 2,100 SF
- Industrial and storage
- 39,964 SF
- Height
- 1 floor
- Year built
- 1986
- Last major alteration
- 2017
- Lot area
- 67,022 SF
- Zoning district
- M3-1
- Built FAR
- 0.63
- Max commercial FAR
- 2
- Tax lot (BBL)
- 4026020090
Nearest subway
- Seneca Av
Other ways around Maspeth
- Q58 and Q59 buses on Grand Av
- Long Island Expressway and Brooklyn-Queens Expressway
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 RADHASWAMY INC. as the owner of record. For tax year 2026/27 the city values 57-03 48th Street at $5.1 million and assesses it at $2.29 million. After phase-ins and exemptions its taxable value is $2.12 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 $229,455 a year before abatements, roughly $5.45 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
- RADHASWAMY INC.
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $5,100,000
- Land market value
- $2,011,000
- Assessed value
- $2,295,000
- Taxable value (phased in)
- $2,115,180
- Estimated yearly tax
- About $229,455
- Tax per SF of floor area
- About $5.45
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 57-03 48th Street? List a space here free and we match it against every active requirement.
NYC property records (ACRIS)
Sales history
57-03 48th Street last sold in January 2010 for $11 million, according to the deed recorded with the city. 57-03 48TH STREET LLC sold it to RADHASWAMY INC..
- Last sale (deed date)
- January 19, 2010
- Price
- $11,000,000
- Seller
- 57-03 48TH STREET LLC
- Buyer
- RADHASWAMY INC.
- Deed recorded
- January 26, 2010
- ACRIS document
- 2010012201179001
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.
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Questions about 57-03 48th Street
How big is 57-03 48th Street?
57-03 48th Street has about 42,000 square feet of floor area in total, including 2,000 square feet of office and 40,000 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 57-03 48th Street built?
City records list 1986 as the year built, with a major alteration recorded in 2017. The building is 1 floor tall.
What other addresses does 57-03 48th Street have?
City records list 58-07 48th Street on the same tax lot (BBL 4026020090) as 57-03 48th Street. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 57-03 48th Street?
57-03 48th Street is in ZIP code 11378, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 57-03 48th Street, Maspeth, NY 11378.
What is the zoning at 57-03 48th Street?
The lot is in the M3-1 zoning district. PLUTO lists a built floor area ratio (FAR) of 0.63 and a maximum commercial FAR of 2 for this lot.
What subway station is closest to 57-03 48th Street?
No subway within a short walk of 57-03 48th Street: the nearest station is more than 1,600 meters away (about 20 minutes on foot before allowing for the street route). The closest subway station to 57-03 48th Street is Seneca Av (the M train), about 1.4 miles away in a straight line; the street route is longer. Other ways around Maspeth: Q58 and Q59 buses on Grand Av; Long Island Expressway and Brooklyn-Queens Expressway. These are neighborhood connections, not directions from the building.
Who owns 57-03 48th Street?
The NYC Department of Finance's 2026/27 assessment roll lists RADHASWAMY INC. as the owner of record of 57-03 48th Street (BBL 4026020090). Deeds and mortgages for the lot are public in ACRIS, the city's property records system.
When was 57-03 48th Street last sold?
57-03 48th Street last sold in January 2010 for $11 million, according to the deed recorded with the city. 57-03 48TH STREET LLC sold it to RADHASWAMY INC.. The deed is ACRIS document 2010012201179001 (BBL 4026020090) 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 are the property taxes at 57-03 48th Street?
The Department of Finance's 2026/27 assessment roll lists a taxable value of $2.12 million for 57-03 48th Street. At the Class 4 rate of 10.848% (tax year 2025/26, the latest rate the Department of Finance lists), that is about $229,455 a year, roughly $5.45 per square foot of floor area, before abatements such as ICAP. The city's property tax records for BBL 4026020090 show the actual bill.
What is the assessed value of 57-03 48th Street?
For tax year 2026/27, the NYC Department of Finance puts the market value of 57-03 48th Street at $5.1 million ($2.01 million of it land) and its assessed value at $2.29 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 23% from 2022/23 ($4.14 million) to 2026/27.
Is there industrial and storage space for lease at 57-03 48th Street?
No space at 57-03 48th 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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Maspeth
Transit hubs in Maspeth
- Q58 and Q59 buses on Grand Av
- Long Island Expressway and Brooklyn-Queens Expressway