NYC-Leased Office with Conversion Potential 16515 Archer Ave 77,720 SF 100% Leased Office Building Jamaica, NY 11433 $29,782,659 CAD ($383.20 CAD/SF)

165-15 Archer Avenue is a five-story office building spanning the full 230-foot blockfront on the north side of Archer Avenue between 165th Street and Merrick Boulevard.
The building spans about 77,720 square feet and is fully leased to the City of New York through November 5, 2027, offering reliable income. Afterward, rent shifts to 110% holdover rent through October 31, 2029. The City pays taxes and utilities, while the landlord’s responsibilities are primarily structural.
The City uses the building for ACS and DFTA offices, with past uses including early-childhood and senior centers, indicating its suitability for civic and community programs. While current tenancy offers short-term stability, the property’s redevelopment potential is significant. It permits approximately 176,000 SF as of right, or 211,000 SF with Universal Affordability Preference, and is eligible for a 467-m tax incentive, facilitating office-to-residential conversion with a long-term tax break. Located in Jamaica’s vibrant commercial district, with access to major transit and upcoming neighborhood upgrades, the site offers strong redevelopment prospects.
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