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Features

5-12 51st Avenue-03 FIVE 12 (Images courtesy of Modern Spaces)
In LIC’s vibrant yet cozy Hunters Point community, a once-in-limbo development has blossomed into a boutique condo with 5 larger-than-average homes. Named FIVE 12 for its address at 5-12 51st Street, the 4-story building is situated between 5th Street and Vernon Boulevard, two blocks from the waterfront and a short walk to the G and 7 subway lines.
The first two listings hit the market last week and its buyers will benefit from a 15-year 421-A Tax Abatement. The spreads are #3A, a 2-bed/2-bath home spanning a spacious 1,420-SF and priced at $1.565M; and #2A, a 755-SF studio priced at $835K. The sales team, led by Modern Spaces, says overall pricing of the studio to 2-bedroom homes will range from $700K to $2.6 million and the largest home is a soon-to-be-listed ground-floor duplex spanning a sizeable 2,000-SF with its own private backyard patio. Eric Benaim, founder and CEO of Modern Spaces says, “The average New York City studio apartment is only 550 square feet, yet a studio at FIVE 12 offers more than 750 square feet of space – this is a very unique product on the market.”
5-12-51st-Street-03 Unit #2A - 755-SF priced at $835K
Unit #3A is a 2-bed/ 2-bath priced
Apartments are fitted with hardwood oak floors, in-unit Samsung washers and dryers, smart-phone-operated Nest thermostats and kitchens with Bosch ovens and stainless-steel appliances. Benaim says, “The homes all have a custom-made feel, complete with one-of-a-kind kitchens that have varying tiling and cabinet themes.”

The structure was partially built in 2007 with a red-brick facade, and then re-designed and completed by Asa Barak Studios. There will be a common roof deck that for the near-term will give way to incredible views of the Manhattan skyline and East River.
Living room
FIVE 12 Bedroom (Modern Spaces)
(Modern Spaces)
FIVE 12-03 Patio deck of the duplex apartment
New Developments Editor Ondel Hylton Ondel is a lifelong New Yorker and comprehensive assessor of the city's dynamic urban landscape.
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