Queens warehouse to be converted into 36-unit complex

Yet another conversion planned for Long Island City

5-33 48th Avenue in Queens
5-33 48th Avenue in Queens

A Long Island City warehouse is slated to be turned into a 36-unit residential complex with retail space on the ground floor.

Initial plans for the mixed-use property at 5-33 48th Avenue, between Vernon Boulevard and 5th Street, called for the addition of  two extra two floors. It is unknown whether the units will be rentals or condominiums.

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Late last year, real estate investment firm Atlas Capital Group entered a contract to purchase a 1 million-square-foot commercial building in Long Island City valued at more than $102 million from property investor Mark Karasick, at the nearby 47-44 31st Street, as previously reported. [Curbed]Mark Maurer