177-14 Wexford Ter - Apartments FOR SALE


Jamaica, NY 11432- Jamaica Estates
$16,850,000 USD
718-663-2639
177-14 Wexford Ter, Jamaica, NY for Sale
$16,850,000 USD
Apartments - FOR SALE
1/5
null | Request Cap Rate

177-14 Wexford Ter
Jamaica, NY 11432
Jamaica Estates


HIGHLIGHTS

  • 35-Year Tax Abatement(through 2055) Substantial long-term property tax savings under the Affordable New York program
  • Strong Unit Mix with Free Market Upside 38-units with a balanced mix of 1-4 bedroom layouts. ~25% of the units are free market.
  • Prime Jamaica Estates location Directly across from Mary Louis Academy and near St. John’s University, offering built-in demand drivers.
  • Exceptional Transit Access The 179th Street subway entrance is around the corner on Hillside Avenue / 178th Street with direct access to Midtown.
  • Modern Construction with Stable Tenancy Newly built in 2020 with quality construction and modern layouts.

OVERVIEW

RIPCO REAL ESTATE has been retained on an exclusive basis to arrange for the sale of 177-14 WEXFORD TERRACE — in Jamaica Estates, NY (the “Property”).The Property is a mixed-use building, built in 2020, featuring 39 apartments in a well-balanced unit mix of 23 one bedrooms, six two-bedrooms, two three-bedrooms, and eight four-bedroom units. The ground floor is leased to Active Care, Inc., a Social Adult Day Care, with potential for expansion into the legal lower level by the current or future tenant. The building benefits from a 35-Year Affordable New York tax abatement that began in 2020/2021 and expires in 2054/2055. Under the program, 12 apartments were leased through the HPD lottery process. Additionally, 10 apartments (~25% of the units) are free market, having been leased above the rent stabilization threshold at initial occupancy. 177-14 Wexford Terrace is ideally located in Jamaica Estates, a stable Queens neighborhood known for its residential feel and key institutional anchors. The property is directly across from The Mary Louis Academy, with a monastery next door, adding to the area’s community-oriented character. St. John’s University is less than five minutes away, generating steady rental demand. The 179th Street F subway station is a 3-minute walk, providing direct access to Midtown Manhattan in under 45 minutes. The site also benefits from proximity to JFK Airport and Downtown Jamaica, strengthening connectivity. This transit-oriented, supply-constrained pocket of Queens continues to see strong tenant demand and consistent rent growth. For additional information or to schedule a property inspection, please contact the exclusive brokers.

FOR SALE DETAILS

PRICE

$16,850,000 USD

PRICE/SF

$605 USD /SF

# OF UNITS

40

PRICE/UNIT

$421,250

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

177-14 Wexford Terrace

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Mid-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

9

YEAR BUILT

2020

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,405 SF

ZONING

R7A-DJ

APN/PARCEL ID

09835-0026

ASK ABOUT THIS PROPERTY

Stephen PreussRipco Real EstateMore Info
718-663-2639

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

Stephen PreussRipco Real EstateMore Info
718-663-2639

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