Factory and industrial building · Richmond Hill, Queens
87-46 123rd Street
Richmond Hill, NY 11418
87-46 123rd Street is a 3-floor factory and industrial building in Richmond Hill, Queens, built in 1931, with about 138,000 square feet of industrial and storage space according to city records.
Also at 87-44 to 87-46 123rd Street, 87-54 123rd Street, 87-80 123rd Street, 87-80 123rd Street (rear) and 2 more.
- Industrial and storage space
- 138K SF
- Floors
- 3
- Year built
- 1931
- Zoning
- M1-1
The 3rd largest of the 9 industrial and storage buildings we track in Richmond Hill. Compare it with 6 neighbors
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Compared with its neighbors
How 87-46 123rd Street compares
Next to the 6 nearest large industrial and storage buildings, all within a 10 minute walk, 87-46 123rd Street ranks 3rd of 7 by industrial and storage floor area. It went up in 1931; the median neighbor dates from 1930. Its property tax is fully exempt on the city's assessment roll.
| Building | Industrial and storage space | Floors | Built | Tax / SF | Last sale |
|---|---|---|---|---|---|
| 87-46 123rd Street | 138K SF | 3 | 1931 | Exempt | Jun 2017, $18.1M |
| 87-40 121st Street | 83K SF | 6 | 1930 | $5.65 | Jan 2022, $46.5M |
| 87-16 121st Street | 154K SF | 7 | 2020 | $5.16 | Jan 2026, $84.7M |
| 120-08 Jamaica Avenue | 36K SF | 4 | 1902 | Exempt | Oct 2023, $18M (4 lots) |
| 119-24 Jamaica Avenue | 46K SF | 5 | 2005 | $5.64 | n/a |
| 130-11 Atlantic Avenue | 45K SF | 3 | 1930 | $3.86 | Feb 2010, $3.5M |
| 131-11 Atlantic Avenue | 170K SF | 4 | 1931 | $2.76 | 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
- 87-44 to 87-46 123rd Street; 87-54 123rd Street; 87-80 123rd Street; 87-80 123rd Street (rear); 87-82 123rd Street; 87-86 123rd Street
- ZIP code
- 11418
- Building type
- Factory and industrial building (city class F1)
- Total floor area
- 138,000 SF
- Commercial floor area
- 138,000 SF
- Industrial and storage
- 138,000 SF
- Height
- 3 floors
- Average floor
- About 46,000 SF (floor area divided by floors)
- Year built
- 1931
- Last major alteration
- 1969
- Lot area
- 95,905 SF
- Zoning district
- M1-1
- Built FAR
- 1.44
- Max commercial FAR
- 1
- Tax lot (BBL)
- 4093310030
Nearest subway
- 121 St
- 111 St
- Jamaica-Van Wyck
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 Department of Finance records
Property tax and assessed value
For tax year 2026/27 the city values 87-46 123rd Street at $8.68 million and assesses it at $3.91 million. Exemptions on the roll cover the whole taxable value, which is common for government, nonprofit and payment-in-lieu-of-taxes properties.
- Tax class
- Class 4 (commercial and industrial)
- City market value
- $8,684,000
- Land market value
- $1,416,000
- Assessed value
- $3,907,800
- Exemptions
- $3,907,800
- Estimated yearly tax
- Fully exempt on the roll
City market value by tax year
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Source: NYC Department of Finance, Property Valuation and Assessment Data (2026/27 roll), pulled 2026-10-16. Exempt properties can still owe charges or payments in lieu of taxes that the roll does not show.
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NYC property records (ACRIS)
Sales history
87-46 123rd Street last sold in June 2017 for $18.1 million, according to the deed recorded with the city. The seller of record was 123RD STREET HOLDING CORP.. That comes to about $131 per square foot of floor area.
- Last sale (deed date)
- June 16, 2017
- Price
- $18,100,000
- Price per SF of floor area
- About $131
- Seller
- 123RD STREET HOLDING CORP.
- Deed recorded
- June 23, 2017
- ACRIS document
- 2017061900881001
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 energy benchmarking (Local Law 84)
Energy use and emissions
87-46 123rd 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 65.1 kBtu per square foot. Its greenhouse gas emissions were about 697 metric tons of CO2e (5.04 kg per square foot).
- ENERGY STAR score (2024)
- None given
- Property type (Portfolio Manager)
- Manufacturing/Industrial Plant
- Site energy use intensity
- 65.1 kBtu/SF
- Greenhouse gas emissions
- 697 t CO2e
- Emissions per SF
- 5.04 kg CO2e
- Floor area in the filing
- 138,469 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 2026-10-16; grade cutoffs from the Department of Buildings energy grades page. Figures are as the owner filed them in ENERGY STAR Portfolio Manager.
NYC Department of Buildings permits
Work permits and build-outs
In the 12 months to October 2026, the Department of Buildings issued first permits for 2 jobs at 87-46 123rd Street. In the last two years, interior work was permitted on 3 floors (floors 1 to 3). The newest build-out, on floors 1 to 3, was first permitted in October 2026 (construction; filed cost estimate $617,000).
- New jobs, last 12 months
- 2
- Initial permits, last 12 months
- 2
- Newest job first permitted
- October 2026
- Interior build-outs, last 24 months
- 2
- Floors with interior work, last 24 months
- 1 to 3
- Facade and sidewalk jobs, last 24 months
- 1
Recent build-outs
New jobs by year
Build-outs across Richmond HillWhere 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 Richmond Hill yet
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Questions about 87-46 123rd Street
How big is 87-46 123rd Street?
87-46 123rd Street has about 138,000 square feet of floor area in total, including 138,000 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 87-46 123rd Street built?
City records list 1931 as the year built, with a major alteration recorded in 1969. The building is 3 floors tall.
What other addresses does 87-46 123rd Street have?
City records list 87-44 to 87-46 123rd Street, 87-54 123rd Street, 87-80 123rd Street, 87-80 123rd Street (rear), 87-82 123rd Street and 87-86 123rd Street on the same tax lot (BBL 4093310030) as 87-46 123rd Street. A space listed on Leasemark at any of these addresses shows up on this page.
What is the ZIP code of 87-46 123rd Street?
87-46 123rd Street is in ZIP code 11418, according to the city's tax lot records (NYC PLUTO 26v2) and the Department of Finance's assessment roll. The full mailing address is 87-46 123rd Street, Richmond Hill, NY 11418.
What is the zoning at 87-46 123rd Street?
The lot is in the M1-1 zoning district. PLUTO lists a built floor area ratio (FAR) of 1.44 and a maximum commercial FAR of 1 for this lot.
What subway station is closest to 87-46 123rd Street?
The closest subway station to 87-46 123rd Street is 121 St (the J and Z trains), about 600 feet away in a straight line, roughly 2 minutes on foot. Also nearby: 111 St (the J train), 10 min walk; Jamaica-Van Wyck (the E train), 12 min walk. Walking times are straight-line estimates; the street route is longer.
When was 87-46 123rd Street last sold?
87-46 123rd Street last sold in June 2017 for $18.1 million, according to the deed recorded with the city. The seller of record was 123RD STREET HOLDING CORP.. That comes to about $131 per square foot of floor area. The deed is ACRIS document 2017061900881001 (BBL 4093310030) 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 87-46 123rd Street have an energy grade?
87-46 123rd 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 65.1 kBtu per square foot. Its greenhouse gas emissions were about 697 metric tons of CO2e (5.04 kg per square foot).
Is there construction at 87-46 123rd Street?
In the 12 months to October 2026, the Department of Buildings issued first permits for 2 jobs at 87-46 123rd Street. In the last two years, interior work was permitted on 3 floors (floors 1 to 3). The newest build-out, on floors 1 to 3, was first permitted in October 2026 (construction; filed cost estimate $617,000). These are the Department of Buildings' DOB NOW work permits for tax lot 4093310030. 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 87-46 123rd Street?
The Department of Finance's 2026/27 assessment roll lists exemptions covering the whole taxable value of 87-46 123rd Street, so there is no property tax on the roll to estimate. That is common for government, nonprofit and payment-in-lieu-of-taxes (PILOT) properties. The city's property tax records for BBL 4093310030 show what is actually billed.
What is the assessed value of 87-46 123rd Street?
For tax year 2026/27, the NYC Department of Finance puts the market value of 87-46 123rd Street at $8.68 million ($1.42 million of it land) and its assessed value at $3.91 million, the 45% of market value the city assesses for Class 4 property. The city's market value rose 1% from 2022/23 ($8.61 million) to 2026/27.
Is there industrial and storage space for lease at 87-46 123rd Street?
No space at 87-46 123rd 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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Richmond Hill
Transit hubs in Richmond Hill
- J at 121 St
- J at 111 St
- J at 104 St
- Van Wyck Expressway