Residential Development Site - 148-24 89th Avenue

Jamaica, Queens, New York 11435

$1,700,000   $108 per BSF

Listing ID Number

25273

Property Description

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of a development site located at 148-24 89th Avenue in Downtown Jamaica, NY. The subject property is currently a single-family home which will be delivered vacant.

The property is zoned R7A, and it is located within the Downtown Jamaica Special District. Further, the lot is located within the (voluntary) Inclusionary Housing Designated Area. The base FAR within this area is reduced to 3.45, and there is a maximum bonus FAR of 4.60 for developments that dedicate 20% of the residential square footage to the Inclusionary Housing program.

This property is centrally located in Downtown Jamaica, only a half block from Rufus King Park, and less than a ΒΌ mile walk to the bustling retail sector of Jamaica Avenue. Further, property is ideally positioned a short walk from the major transit hub in Jamaica with access to the F, E, J, & Z subway lines, several major bus routes, and the Long Island Rail Road.

Please inquire for additional information on this property.

Overview

Building Type:Development/Conversion Sites
Lot Dimensions:31.25 x 145
Lot Sq Ft:4,531.25
Zoning:R7A - DJ
FAR:3.45 / 4.60

Summary

Price Per Buildable Sq Ft:$108

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Daniel Abbondandolo
Director
(718) 512 2606
dan.abb@cushwake.com

Kevin Schmitz
Senior Associate
(718) 512 2628
kevin.schmitz@cushwake.com


Property Images

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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.