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89-25 162Nd Street Jamaica, NY 11432

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89-25 162Nd Street Jamaica, NY 11432 FOR SALE 89-25 162nd Street Jamaica, NY 11432 Asking Price ~72,000 BSF Mixed-Use $6,500,000 Development Site in Jamaica, Queens PPBSF: $90 PROPERTY HIGHLIGHTS ~72,000 BSF Mixed-Use 89TH AVE Development Site in Jamaica, Queens LOT 30 163RD STREET SIGNIFICANT TREMENDOUS 162ND STREET REDEVELOPMENT EXPOSURE POTENTIAL ~14,500 SQ. FT. UNIMPROVED ~72,000 BUILDABLE SQ. FT. PARKING LOT EXISTING MIXED-USE DEVELOPMENT SITE EXCELLENT HIGH DEMAND TRANSPORTATION NEIGHBORHOOD NEAR THE PARSONS BLVD CENTRALLY LOCATED IN ONE F STATION, AND JAMAICA OF NYC’S FASTEST EMERGING BLOCK CENTER E, J, Z STATION MARKETS 9761 JAMAICA AVE 89-25 162nd Street Jamaica, NY 11432 PROPERTY FEATURES PROPERTY INFORMATION ZONING INFORMATION FINANCIAL INFORMATION ADDRESS ZONING RESIDENTIAL TENTATIVE 89-25 162ND STREET, JAMAICA C4-5X, SPECIAL DOWNTOWN BUILDABLE SQ. FT. ASSESSMENT (21/22) JAMAICA DISTRICT (W/ INCUSIONARY HOUSING) $253,350 LOCATION 71,747 Approx. EASTSIDE OF 162ND STREET RESIDENTIAL FAR TENTATIVE JUST SOUTH OF 89TH AVENUE 3.75 COMMERCIAL FAR PROPERTY TAXES (21/22) 4.00 $27,093 BLOCK / LOT RESIDENTIAL FAR 9761 / 30 (W/ INCUSIONARY HOUSING) COMMERCIAL 5.00 LOT DIMENSION BUILDABLE SQ. FT. 112.5’ x 127.55’ Irr. Approx. RESIDENTIAL (AS-OF-RIGHT) BUILDABLE SQ. FT. 57,398 Approx. GROSS LOT SQ. FT. (AS-OF-RIGHT) 14,349 Approx. 53,810 Approx. PROPERTY SUMMARY Cushman & Wakefield has been exclusively retained to arrange with retail and/or office components, and community facilities for the sale of 89-25 162nd Street, Jamaica NY. such as a charter school or medical office hub. The developer 89-25 162nd Street is an unimproved parking lot which will benefit from low property taxes. spans 1/3 of an acre and has 112’ of frontage on 162nd Street. The property is conveniently located between the Jamaica The property, zoned C4-5X / R7X, is an ideal mixed-use Avenue shopping corridor near Target & H&M and Hillside development site in the center of Downtown Jamaica. The Avenue with easy access to the F subway. property is located within a voluntary inclusionary housing Please contact the Exclusive Brokers for the due diligence district which means that the as-of-right zoning floor area is room which includes the property survey, zoning analysis, and 53,810, and the maximum zoning floor area is 71,747 with the comparable sales & rental data. inclusionary housing bonus. The property is ideal for numerous types of development including residential rentals, mixed-use 89-25 162nd Street Jamaica, NY 11432 PROPERTY PHOTOGRAPHY 89-25 162nd Street Jamaica, NY 11432 LOCATION MAP 678 678 While Jamaica’s rich transit options attract numerous residents and professional for JAMAICA convenience sake, some still choose to drive. For those traveling via car, a number of major thoroughfares are positioned near the property including Hillside Avenue, NEIGHBORHOOD Jamaica Avenue, Liberty Avenue, Merrick Boulevard, Parsons Boulevard, Guy R. Brewer Boulevard, Sutphin Boulevard, Union Turnpike, the Van Wyck Expressway and the Grand Central Parkway. These notable roads make traveling throughout the area easy for those who do not choose to utilize the mass transportation options. 89-25 162nd Street Jamaica, NY 11432 Stephen R. Preuss Kevin Schmitz Kevin Louie Andreas Efthymiou Vice Chairman Director Director Director +1 718 512 2118 +1 718 512 2628 +1 718 512 2627 +1 718 512 2621 [email protected] [email protected] [email protected] [email protected] ©2021 Cushman & Wakefield. All rights reserved. The material in this presentation has been prepared solely for information purposes, and is strictly confidential. Any disclosure, use, copying or circulation of this presentation (or the information contained within it) is strictly prohibited, unless you have obtained Cushman & Wakefield’s prior written consent. The views expressed in this presentation are the views of the author and do not necessarily reflect the views of Cushman & Wakefield. Neither this presentation nor any part of it shall form the basis of, or be relied upon in connection with any offer, or act as an inducement to enter into any contract or commitment whatsoever. NO REPRESENTATION OR WARRANTY IS GIVEN, EXPRESS OR IMPLIED, AS TO THE ACCURACY OF THE INFORMATION CONTAINED WITHIN THIS PRESENTATION, AND CUSHMAN & WAKEFIELD IS UNDER NO OBLIGATION TO SUBSEQUENTLY CORRECT IT IN THE EVENT OF ERRORS..
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