Assignments

Downtown Jamaica Ground Lease

143-24 94th Avenue, Jamaica, NY 11435

143-24 94th Avenue, Jamaica, NY 11435

under contract

Asking
Sale Price
$

Property Details

Status
For Sale
Property Type
Residential Development Site
Price Summary
$
Sale Price
$
Buildable SF
42000
Building SF
42000
LOT SF
42000
Cap RATE
%
Zoning
C4,5X, DJ, IH

Highlights

  • 70’ x 100’ Lot Zoned C4-5X, DJ
  • 35,000 ZFA. 42,000 BSF with UAP
  • Located within the Jamaica Neighborhood Plan Rezoning (JNP)
  • Proposed New Zoning of C6-3. 75,600 ZFA Upon Completion of the JNP
  • Delivered Vacant
  • Located 1 block from the Archer Avenue LIRR and Subway
  • Low Taxes ($17,250/yr)

Property DEscription

Unlock a stellar development opportunity at 143-24 94th Avenue, Jamaica, NY 11435, with this prime 70' x 100' lot zoned C4-5X DJ, perfectly positioned for visionary developers. Boasting an impressive 35,000 ZFA and 42,000 BSF with UAP, this site offers explosive potential to scale up to 75,000 ZFA upon completion of the transformative Jamaica Neighborhood Plan (JNP) rezoning. Situated just one block from the bustling Archer Avenue LIRR and Subway, this property guarantees unrivaled transit access and remarkably low annual taxes of just $17,250. Secure this gem with a $300,000 triple-net lease, a generous 48-year term plus a 48-year option, and a two-year rent deposit that drops to one year upon TCO. With 12% rent increases every five years (subject to CPI review every decade), all uses considered, and delivered vacant at lease execution with a mandatory completion guarantee, this is your chance to capitalize on a highgrowth location in the heart of Jamaica’s vibrant future.

Map

Alexandre Goulet
Partner
(646) 559-4700
ag@landairnyc.com

Documents

Offering Memorandum
Data Room

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