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Cooperative · 1996
Citylights at Queens Landing
4-74 48th Avenue, Queens, NY 11109
Buildings·Cooperative

Citylights at Queens Landing

4-74 48th Avenue, Queens, NY 11109

BBL 4000180001 · BIN 4000019

At a glance
Year built
1996
Type
Cooperative
Units
522
Floors
42
Landmark
No
The Data Room

Every recorded sale at this building, 2004–2026

Price-per-square-foot over time, the line- and floor-premium curves, and every recorded sale.

Median $/sf
$811
Listing discount
3.9%
Recorded sales
605
On record
2004–2026
Considering a sale?

Own an apartment here? See what it would sell for.

A Private Pricing Opinion — what your apartment at Citylights at Queens Landing would likely sell for today, what it costs to sell, and what you’d walk away with — reviewed personally against condition, exposures, renovation quality, and the competition actually on the market.

Citylights was an early residential tower in the redevelopment of the Hunters Point waterfront. Cesar Pelli & Associates designed the 42-story building, with SLCE as architect of record, around a broad base containing parking, retail and a learning center. The block extends from Center Boulevard to Fifth Street and from 48th to 49th Avenues. Its position gives west-facing homes views across the East River toward Manhattan.

The building’s ownership structure is central to its market position. Shareholders own cooperative stock and hold proprietary leases, while the corporation leases the underlying property from Queens West Development Corporation. The apartment purchase and the monthly maintenance payment cover different parts of that structure: the corporation’s ground rent, underlying financing and payments in lieu of taxes are recurring obligations behind the share purchase.

The waterfront development also explains an otherwise striking zoning entry. The offering plan says construction proceeded under an Empire State Development override of the manufacturing zoning. The residential tower was authorized through that state development framework; the zero residential floor-area allowance on the city zoning map does not describe the approvals under which it was built.

Architecture and unit composition

The building combines a lower block of substantial depth with a narrower tower above. The lower floors accommodate a broader range of apartment positions, while the tower’s perimeter provides elevated exposures in several directions. The original design places shared recreation space over the garage, separating outdoor activities from the street and from the upper residential floors.

Apartment types include studios and one-, two- and three-bedroom homes, along with larger combinations and upper-floor configurations. Windows facing west address the river and Manhattan skyline; east-facing rooms look across Long Island City. Corner plans can capture two directions of light. The orientation of the principal living room is a meaningful distinction within a building with this many exposures.

The original offering assigned shares to 521 apartments and reserved a separate residence for the superintendent. Later combinations have changed some interior arrangements. A combined apartment can retain the proportions of more than one original plan, including additional corridors and separate window groupings. The bedroom count alone does not identify which part of the original floor plate a home occupies.

Some apartments have private balconies or terraces. The offering plan expressly reserves building access to certain exterior areas for repairs and maintenance and notes the presence of vents, drains and other building systems. These private outdoor areas are distinct from the common recreation roof and carry their own access obligations under the proprietary lease.

Five residential passenger elevators were specified in the original building design, with separate elevator service for the garage and learning-center component. The architect’s report distinguishes construction-floor numbering from the numbering used in apartment marketing, including the penthouse tiers. A penthouse label therefore identifies an upper-floor designation; confirm separately whether a given "penthouse" apartment is a duplex or has a private roof terrace.

Building operations

Citylights operates a staffed residential building with common laundry and a fitness center. The garage, street-level commercial space and learning-center premises form part of the larger property. The original plan treats parking use as a service separate from basic apartment maintenance, so a share purchase does not automatically include a parking space.

The recreation roof has changed since the original construction. Brooklyn Grange designed and installed a 16,000-square-foot green roof with native perennial planting. DOB alteration filings also describe outdoor seating and planters, a tennis court, a bocce court and accessory storage created from part of the garage. The planted areas and hard-surfaced recreation areas occupy different portions of the roof.

The cooperative’s obligations extend beyond its interior amenities. The ground-lease summary assigns maintenance and repair of the property to the apartment corporation and requires it to maintain publicly accessible pedestrian spaces. It also requires landlord consent for material alterations to the building. The corporation manages a mixed-use property with public-access obligations as well as a residential tower.

Payments in lieu of taxes, or PILOT, arise under the ground lease. The building’s 2021 financial update describes the phase-out of its earlier tax benefit and scheduled full PILOT payments beginning in 2022. That history explains part of the maintenance growth since 2022; there is no active tax abatement today. Ground rent, PILOT and the cooperative’s underlying debt are separate from an individual shareholder’s apartment loan.

Policy framework

The purchase and sublease applications on file provide the following terms; confirm that the current application retains them before signing a contract.

Financing: Up to 90% of the purchase price in the purchase application. The lender separately reviews the cooperative and its ground lease.

First-year occupancy: The purchaser acknowledges using the apartment as a residence for the first year after purchase before subletting.

Subletting: The application limits each sublease and renewal to a one-year term and requires a separate submission and fee.

Pets: The purchase package permits one pet per apartment and prohibits pets for subtenants.

Transfer process: The proprietary lease provides a right of first refusal on sales and subleases. The purchase package gives the board thirty days from receipt of a complete application to exercise or waive that right.

Recent sales

Recent transfers at this building, curated by The Roebling Team research desk. Prices are the transfer amounts recorded with the NYC Department of Finance; apartment-level detail is checked against the building’s own file in The Roebling Research Library before publishing.

DateUnitApartmentPricePPSFvs. Ask
Jun 29, 202617G
1 BR · 1 BA · 863 sf
$675,000$782/sf-0.6%
May 15, 20263BB
1 BA · 503 sf
$460,000$915/sf-5.7%
May 14, 202617J
1 BR · 1 BA · 865 sf
$665,000$769/sf-4.9%
Apr 2, 202635L
2 BR · 2 BA · 1,150 sf
$800,000$696/sf-8.6%
Mar 20, 202621N
1 BR · 1 BA · 800 sf
$680,000$850/sf-2.9%
Jan 29, 2026PH2B
2 BR · 2 BA · 1,100 sf
$895,000$814/sf-3.2%
Jan 12, 202625A
2 BR · 2 BA · 1,050 sf
$984,000$937/sf+0.0%
Dec 24, 20259L
1 BR · 1 BA · 815 sf
$670,000$822/sf-4.3%

Market read. Most recent trades (2026) cleared a median $811/sf across 6 sales. Median listing discount 3.9% from the last ask — a recurring negotiation gap worth pricing into any offer or listing strategy.

The retrade record

Lines that have traded more than once in the public record — the building’s appreciation arc, apartment by apartment.

38D · 833 sf+82%
$355,000 ($426/sf) 2009 → $645,000 ($774/sf) 2016
PH2H · 1,000 sf+68%
$450,000 ($463/sf) 2011 → $758,160 ($758/sf) 2023
25A · 1,050 sf+62%
$607,500 ($582/sf) 2010 → $984,000 ($937/sf) 2026
4B · 480 sf+56%
$299,000 ($664/sf) 2014 → $585,000 ($1,300/sf) 2021 → $399,999 ($952/sf) 2022 → $465,000 ($969/sf) 2024
7G · 863 sf+47%
$430,000 ($498/sf) 2012 → $630,000 ($730/sf) 2015
View all 605 recorded transfers, sortable

Full closing history with price-per-square-foot over time, the complete retrade record, and every line that has traded.

Sales sourced from NYC Department of Finance recorded transfers (BBL 4-00018-0001) and verified listing data. Apartment-level facts (line, condition, asking-price context) curated and cross-verified by The Roebling Team research desk. Not all transactions cross-verify with ACRIS records — sponsor and LLC purchases sometimes record at stipulated values rather than market price; square footage on co-ops is not officially recorded, figures shown are approximate.

What would buying here cost?

At the recent median sale of $680K (30 transfers since 2024), a buyer putting 25% down would pay about $11,100 to close, or 1.6% of the price.

  • Mansion tax: $0
  • No mortgage recording tax or title insurance on a co-op purchase
  • Attorneys, lender, building fees and filings: $11,100

Assumes a resale (the seller pays transfer taxes), a $4,500 attorney fee and a mortgage on the rest.

The Roebling Report

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What to know if you’re buying

Review the lease term with the lender before committing to financing. The original ground lease expires in 2095 and requires negotiation with the landlord for an extension or a new lease. It does not promise an automatic renewal. Counsel should establish which amendments apply to the apartment corporation today, and the lender should accept the actual lease documents before a financing contingency is removed.

Check the apartment’s share allocation when comparing carrying costs. Maintenance is allocated through the cooperative’s shares. The original schedule assigns different share amounts to apartments, and later combinations can bring more than one original allocation into a single home. Two apartments with similar advertised floor areas can therefore have different monthly obligations without a corresponding difference in their current asking prices.

What to know if you’re selling

Resolve in-unit laundry before the transfer inspection. The purchase package prohibits apartment washers and dryers and requires previously approved installations dating from before 2012 to be removed when the apartment sells, with plumbing and electrical connections removed or capped. An existing machine should not be advertised as an amenity that automatically passes to the purchaser. This is a closing requirement to settle before scheduling the inspection.

Comparable buildings

  • The View at 46-30 Center Boulevard — A waterfront condominium with a smaller residential population and river-facing layouts, offering a different ownership structure in the same waterfront setting.
  • L Haus at 11-02 49th Avenue — A brick mid-rise condominium organized around landscaped common outdoor space, with a lower building profile and fewer homes.
  • Arris Lofts at 27-28 Thomson Avenue — An industrial conversion with large loft volumes, an interior courtyard and a swimming pool, within condominium ownership.
  • Galerie at 22-18 Jackson Avenue — A contemporary condominium arranged around an interior courtyard, providing a comparison for shared facilities in a smaller development.
  • Skyline Tower at 3 Court Square — A larger glass condominium tower whose high-floor apartments offer a comparison for elevation and skyline exposure in a newer building.

More Long Island City buildings

The neighborhood

For the full neighborhood — its buildings, character, and market — read The Roebling Team Guide to Long Island City.

Preparing a board package for this building?

The full playbook — what goes in the package, how boards read your financials, the interview, and the timeline — plus sample cover, reference, and personal letters you can adapt.

How to read the facts on this page. Items attributed to an offering plan describe the building as it was offered at that filing — unit mix, square footage, the amenity program as planned. They are not a statement about how the building operates today. Tax and compliance figures are sourced separately to current City records and carry their own dates. House rules, staffing and fee policy can change by board resolution without any public filing: treat every policy line here as a starting point for diligence and confirm it with the managing agent. Where this page compares one building or neighborhood to another, that is our analysis of the recorded record — it names the measure, the period and the sample it rests on, and it is an observation about medians rather than a prediction about any particular apartment.

Considering a move at Citylights at Queens Landing?

Request a private building brief with the relevant comparable sales, current and off-market availability, and an apartment-specific view of value.

Prefer to speak directly? Schedule a consultation →
Corey Cohen, Principal · The Roebling Team at Compass
646.939.7375 · c.cohen@compass.com