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Large piece of 5th Street property sells, next to 5sl

47-33 5th Street

47-33 5th Street (GMAPs)

Jan. 20, 2015 By Christian Murray

A large piece of Hunters Point real estate sold earlier this month—next to 5Sl and cater-corner with Duane Reade.

The property, 47-33 5th Street, sold for $12 million and the transaction was filed with the city Friday. The purchaser was Eunhasu Corp., an Elmhurst based real estate firm.

The four-story industrial building is zoned for residential development.

In 2009, the previous owner, 47-33 5th Street Corp, filed plans with the Building Department to construct a six-story structure with 14 units.

The property had been bought by that firm in 2003 for $2.25 million, according to city records.

The chief executive of Eunhasu is Kyu Heung Park.

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Mike

knew it was just a matter of time for this to get developed

neighborhood is at maximum density

next is the old paint factory on vernon and 45th

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Yup

The old paint factory has been owned by a big developer for a few years now, just a matter of time before they start doing something… though I’m sure there’s going to be an intense cleanup process first.

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David

Good – both are decrepit eyesores in their current state. My question is if these will become condos or rentals and what the ground floor commercial space will be like.

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