New York City · Commercial sale

Z & L Golden Eagle buy 59-48 55 Street in Queens for $7.9 million

An industrial building at 59-48 55 Street, Queens sold for $7,900,000 on August 26, 2026. See the seller and buyer net sheets for this sale.

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Automated sale report from public sales records · How we make these · Published November 7, 2026

Sold August 26, 2026 · New York, New York

Aerial view of 59-48 55 Street, Queens with the parcel outlined — Aerial photo: U.S. Geological Survey. Parcel outline: NYC Department of Finance. The photo can predate the sale.

Sale price: $7,900,000
Sold: August 26, 2026
Property type: Industrial building
Building area: 16,580 sq ft
Price per sq ft: $476
Year built: 1964

Seller and buyer net sheets for this sale

Seller Buyer

NetSheet.orgAugust 26, 2026

Seller's estimated net sheet

59-48 55 Street, Queens

Sale price	$7,900,000
Prorations
Property tax proration (refund to seller)	$109,993.97
Title and settlement
Settlement / closing fee	$250
Seller's attorney fee	$1,500
Transfer taxes and recording
NY State real estate transfer tax	$31,600
NY State additional transfer tax (NYC non-residential $2M+)	$19,750
NYC real property transfer tax (commercial/other)	$207,375
Other costs
Wire / courier / payoff processing	$75
Total deductions	$260,550
Estimated net to seller	$7,749,443.97

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NetSheet.orgAugust 26, 2026

Buyer's estimated net sheet

59-48 55 Street, Queens

Purchase price (cash)	$7,900,000
Title and settlement
Owner's title insurance policy	$28,572.55
Settlement / closing fee	$250
Buyer's attorney fee	$2,000
Transfer taxes and recording
Deed recording fee	$250
Prorations
Reimburse seller for prepaid taxes	$109,993.97
Closing costs and prepaids	$141,066.52
Estimated cash to close	$8,041,066.52

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What these figures assume

No brokerage commission is shown: commissions on commercial deals vary and are not in the public record.
The seller figure is before any loan payoff.
The buyer side assumes a cash purchase with no financing.
Annual property tax estimated at 1.65% of price ($130,350).
Title and settlement fees are typical estimates, not quotes.

Selling in Queens?

New York City transfer tax and closing costs

An industrial building at 59-48 55 Street in Queens sold for $7,900,000. The sale closed on August 26, 2026. The price is 6.3 times the market value on record. The city's Department of Finance reported the sale.

The deed lists 59-48 55th Street Corp. as the seller. The buyer is Z & L Golden Eagle LLC. The building has 16,580 square feet of space. It sits on an 18,100-square-foot lot. It was built in 1964. The tax roll shows these details.

The market value on record is $1,252,000. The sale price is 6.3 times that. The price works out to $476 per square foot.

This summary was written by AI from public sales records and checked by automated rules. The figures come from the record and the NetSheet.org rules engine. How we make these.

What were the closing costs in New York City?

By our estimate, the seller's two largest charges, not counting prorations, were $207,375 for the nYC real property transfer tax (commercial/other) and $31,600 for the nY State real estate transfer tax. Who pays what follows New York City custom.

How much did the seller net?

By our estimate, the seller netted about $7,749,444. That is before any broker commissions and any loan payoff.

How much cash did the buyer bring to closing?

A cash buyer would need about $8,041,067 at closing. That covers the full price and closing costs.

Run this net sheet with your numbers (free)

59-48 55 Street, Queens, NY.

Source: NYC Department of Finance, ACRIS (NYC Open Data), document 2026090901114001. Property details: NYC Department of Finance. Net sheets are estimates from the NetSheet.org rules engine, not the parties' actual closing statements. Request a correction or removal.