Assignments

Jamaica Avenue Block-Through Development Site

168-15 Jamaica Avenue & 168-16 91st Avenue, Jamaica

168-15 Jamaica Avenue & 168-16 91st Avenue, Jamaica

under contract

Asking
Sale Price
$
5800000

Property Details

Status
For Sale
Property Type
Residential Development Site
Price Summary
$
5800000
Sale Price
$
Buildable SF
49524
Building SF
49524
LOT SF
49524
Cap RATE
%
Zoning
C6,2, DJ

Highlights

• Prime Block-Through development site and commercial building at 168-15 Jamaica Avenue.

• Total lot size of 7,902 sq. ft. with dimensions of 42x106 on Jamaica Avenue, and 26’ x 134’ on 91st Avenue.

• Zoned C6-2, DJ, allowing for a Mixed-Use building of up to 49,524 Sq. Ft.

• Currently built as a 16,185 Sq. Ft. commercial building that will be delivered vacant at closing.

• Located on Jamaica Avenue, between 168th & 169th Street. The property is surrounded by national retailers, including Marshalls directly next to the property.

• Retail rents projected to hit $70/SF in this pocket of Jamaica Avenue.

Property DEscription

Introducing a prime retail building and development opportunity at 168-15 Jamaica Avenue & 168-19 91st Avenue in Jamaica. The properties consist of (2) lots measuring a total of 7,902 sq. ft. and improved by a 16,185 Sq. Ft. block-through retail building. These block-through properties are located on Jamaica Avenue, between 168th & 169th Street and are zoned C6-2, DJ, allowing for a potential residential building of up to 49,524 sq. ft. The properties will be delivered vacant at closing. The real estate market in Jamaica is experiencing growth, driven by its accessibility and ongoing urban development. Much of the neighborhood has been recently rezoned, which should lead to further retail rent growth. This property is not located in the Jamaica Neighborhood rezoning and is therefore not subject to MIH requirements.

Map

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

Documents

Offering Memorandum
Data Room

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