For the first time in 40 years, an unparalleled development opportunity
has emerged on one of Jamaica's most prominent corridors.
90-40 Parsons Boulevard presents a prime development site, encompassing
a substantial 3,972 square foot lot with an exceptional Walk Score of 98.
Zoned C6-3/C4-5X with a Floor Area Ratio (FAR) of 6.59 or 7.90, this property
allows for a significant buildable area of 26,166 Sq. Ft., expanding to 31,389
Sq. Ft. with the UAP. For visionary developers poised to capitalize on
potential upzoning, the future ZFA for this property could further increase to
approximately 43,284 Sq. Ft. with the affordability component, offering
immense development potential.
Strategically located just a few short blocks from the LIRR Jamaica station,
this site offers seamless and rapid access to Manhattan, cementing its
appeal for future residents or commercial tenants. Currently, the property
comprises two existing buildings housing two residential units, one office,
and three ground-floor retail spaces, generating a current projected annual
income of $234,000.
This property is exceptionally well-suited for a discerning rental developer or
a strategic investor looking to capitalize on the robust growth and immense
potential of Downtown Jamaica's booming real estate market. This is a rare
chance to secure a significant footprint in one of New York City's most
dynamic and rapidly evolving neighborhoods.