The condos at The Monarch have officially hit the market with starting prices for one-bedrooms beginning at $790,000, and two-bedrooms starting at $1.1 million. Situated at the southeast corner of 5th Street and 47th Avenue in Long Island City, The Monarch will join in on the neighborhood's rapid transformation into one of the most sought-after areas to live in New York City. The six-story, 21,000 square foot building was developed by the experienced team of Paramount Realty Management, and its design was crafted by Newman Design Architecture (NDA). Sales are being handled by Modern Spaces and completion is pegged for later this summer.
In this article:
The building is conveniently situated only one block from LIC's Gantry State Park and its stunning waterfront, offering residents postcard views of the Manhattan skyline. Inside is a mix of one-, two- and three-bedroom layouts for sale, several of which are duplexes. All homes will be outfitted with wood flooring and nine-foot high ceilings. Kitchens feature Bosch appliances and boast oak wood cabinetry, Caesarstone countertops and subway tile backsplashes. Baths have stone countertops, deep soaking tubs and rain head showers.
Amenities include a children’s playroom, a resident’s gym, a virtual doorman, on-site parking and bike storage. Many homes will have open views overlooking a full-block ball-field, and there will be a communal second floor terrace for residents. Conveniences such as Duane Reade and Food Cellar are steps away. In addition, buyers will benefit from the 421a 15-year tax abatement program, under which homeowners are exempt from future property tax increases. Eric Benaim, CEO and founder of Modern Spaces, notes that “The Monarch is one of few developments built under 421a, giving buyers a considerable perk in the form of exceptionally low monthly taxes.”
Would you like to tour any of these properties?
Related Articles
Future New York
Landmarks praises residential conversion/restoration of NoMad's Baudouine Building, Seeks revisions to rooftop addition
Tuesday, June 23, 2026
Iconic Addresses
Paul Newman's parkside office sells 47% over ask; Pre-war condo conversions lead Manhattan sales
Tuesday, June 23, 2026
Get To Know
What is a sponsor unit? Pros, cons, and NYC apartments with no board approval required from $165K
Tuesday, June 23, 2026
Get To Know
How property values are assessed in NYC + Great new listings with open houses from $445K
Saturday, June 20, 2026
Get To Know
Swim with a View: 30 Manhattan buildings with high-floor swimming pools and fitness centers
Saturday, June 20, 2026
Future New York
Brick is Back: NYC developments revive the warmth of masonry; See Morris Adjmi's new design for 277 Canal Street
Friday, June 19, 2026
Coney Island
Knicks in Five: 35 NYC condo and rental buildings with basketball courts
Thursday, June 18, 2026
Future New York
6sqft delivers the latest on real estate, architecture, and design, straight from New York City.
