148-36 89th Ave - Apartments FOR SALE


Jamaica, NY 11435- Downtown Jamaica
$12,000,000 USD
718-813-4835
148-36 89th Ave, Jamaica, NY for Sale
$12,000,000 USD
Apartments - FOR SALE
1/54
null | 4% Cap Rate

148-36 89th Ave
Jamaica, NY 11435
Downtown Jamaica


HIGHLIGHTS

  • Free Market
  • 8 Parking Spaces
  • Commute Paradise
  • Minutes to Jamaica Hospital
  • Spacious Media Rooms

OVERVIEW

Prime Transit-Oriented Bulk Condo Offering: Downtown Jamaica, Queens | 22 Residential Units & 8 Parking Spaces An exceptional investment opportunity in one of New York City’s most dynamic and accessible transit hubs. This bulk condominium package delivers immediate scale, majority asset control, and multiple exit strategies. The Offering: Discover a modern, eight-story elevator condominium building designed for urban convenience. This package features the vast majority of the building's inventory, presenting a rare turnkey acquisition for institutional investors, 1031-exchange buyers, or preservation funds. • The Portfolio: 22 Premium Residential Units + Two Media/Recreational Rooms + 8 On-Site Parking Spaces. • The Building: 8-Story Elevator Asset with a Full Cellar and 22 total apartment units. • The Control: Immediate majority control of the condominium board. Unmatched Connectivity. Situated in the absolute heart of Downtown Jamaica, this property boasts a near-perfect transit profile. Residents enjoy effortless commutes across New York City and Long Island. *2 Blocks to F Train (Sutphin Blvd/Hillside) *4 Blocks to F Train (Parsons Blvd/Hillside) *Short Walk to Jamaica Center Hub (E, J, Z Trains & LIRR) • Subway Access: Immediate access to the F, E, J, and Z lines. • Commuter Rail: Minutes from Jamaica Station (LIRR) for rapid transit to Manhattan, Brooklyn, and JFK Airport. • Surface Transit: Steps from major bus lines, including the Q20A, Q20B, Q40, and Q43 on Sutphin Boulevard. Investment Highlights: • High-Yield Rental Strategy: Capitalize on the historic rental demand in Queens with a highdensity, low-vacancy asset. • Fractionalized Exit Strategy: Hold for immediate cash flow and retail individual condo units over time to maximize total ROI. • Rapidly Growing Neighborhood: Benefit from the continuous public and private investments shaping Downtown Jamaica's commercial and residential landscape.

FOR SALE DETAILS

PRICE

$12,000,000 USD

PRICE/SF

$376 USD /SF

# OF UNITS

22

PRICE/UNIT

$545,455

CAP RATE

4%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

22 Unit Condo Package

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Hi-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

8

YEAR BUILT

2021

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

R7A

APN/PARCEL ID

09681-0064,09681-1116

ASK ABOUT THIS PROPERTY

Sarah KimCompass Greater Ny LlcMore Info
718-813-4835

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Sarah KimCompass Greater Ny LlcMore Info
718-813-4835

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.