Long Island City firehouse asking $5.5M could set a neighborhood record

The 1848 building has been used as a residence since 1981 and was purchased by its current owner for $115,000

A converted firehouse in Long Island City's Dutch Kills section could create a neighborhood record if it sells for its full asking price of $5.5 million. The Wall Street Journal first reported on the listing, which was originally built as a firehouse for horse-drawn carriages in the mid-19th century, and is now a modern, two-family home. The current neighborhood record is held by a $4 million house in Hunters Point.

The owner of the firehouse, Megan Dees Friedman, has owned it since 1981. She was walking by it one day and decided then and there that she had to have it, according to the Journal. She put down $115,000 on the three-story red-brick building, which neighbors at the time told her was three times more than the value of the property. Now, it seems like the property might be ready to pay her back in kind, and more.

At the time that Friedman purchased the home, she was running several clothing and crafts boutiques in Manhattan with her then husband. The couple decided to use the basement and the ground floor as a warehouse, and lived in the apartment above. Today, this lower space is its own unit that can be rented out to a tenant, but the property's zoning also allows for its use as a business, if someone wants to run a business from home, according to the Corcoran brokers on the property.

In the early 2000s, Friedman brought on architect Rick Corsini to undertake a major renovation of the home, which included adding a third floor with its wall of glass facing the street, and a skylight. Some of the standout features of the home today include the double height dining room with ceiling heights that reach 17 feet; the third-story limestone terrace that offers views of Midtown Manhattan; a lovely garden; and a parking garage that's entered through a cobblestone driveway.

In all, this 1848 building has three bedrooms, and five bathrooms spread out over 3,500 square feet of space. The property also has 3,800 square feet of unused development rights should a new owner choose to expand.

• Listing: 38-06 28th Street [Corcoran]
• A Queens Firehouse Goes From 'White Elephant' to Cash Cow [Curbed]