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Newly Built Jamaica Estates Mixed-Use 177-14 Wexford Ter 40 Unit Apartment Building $22,325,693 CAD ($558,142 CAD/Unit) Jamaica, NY 11432
Investment Highlights
- 35-Year Tax Abatement (through 2055) - Substantial long-term property tax savings under the Affordable New York program.
- Prime Jamaica Estates Location - Directly across from Mary Louis Academy and near St. John’s University, offering built-in demand drivers. Quiet, resi
- Modern Construction with Stable Tenancy - Newly built in 2020 with quality construction and modern layouts. Community facility leased to Active Care,
- Strong Unit Mix with Free Market Upside - 39-units with a balanced mix of one-to-four bedroom layouts. ~25% of the units are free market, providing lo
- Exceptional Transit Access - The 179th Street subway entrance is around the corner on Hillside Avenue / 178th Street with direct access to Midtown Man
Executive Summary
RIPCO REAL ESTATE has been retained on an exclusive basis to arrange for the sale of 177-14 Wexford Terrace — in Jamaica Estates, NY.
177-14 Wexford Terrace is a mixed-use building built in 2020, featuring 38 apartments in a well-balanced unit mix of 23 one-bedrooms, 6 two-bedrooms, 2 three-bedrooms, and 8 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.
For additional information, financials, or to schedule a property inspection, please reach out to the exclusive brokers.
177-14 Wexford Terrace is a mixed-use building built in 2020, featuring 38 apartments in a well-balanced unit mix of 23 one-bedrooms, 6 two-bedrooms, 2 three-bedrooms, and 8 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.
For additional information, financials, or to schedule a property inspection, please reach out to the exclusive brokers.
Property Facts
| Price | $22,325,693 CAD | Building Class | B |
| Price Per Unit | $558,142 CAD | Lot Size | 0.17 AC |
| Sale Type | Investment | Building Size | 35,391 SF |
| No. Units | 40 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 9 |
| Property Subtype | Apartment | Year Built | 2020 |
| Apartment Style | Mid-Rise | ||
| Zoning | R7A-DJ - Residential Zoning | ||
| Price | $22,325,693 CAD |
| Price Per Unit | $558,142 CAD |
| Sale Type | Investment |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.17 AC |
| Building Size | 35,391 SF |
| Average Occupancy | 100% |
| No. Stories | 9 |
| Year Built | 2020 |
| Zoning | R7A-DJ - Residential Zoning |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Disposal
- Heating
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Stainless Steel Appliances
- Range
- Patio
Site Amenities
- 24 Hour Access
1 1
Exceptionally walkable
100/100
Somewhat drivable
30/100
Exceptional public transit
100/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 09835-0026 | Improvements Assessment | $3,681,770 CAD |
| Land Assessment | $356,292 CAD | Total Assessment | $4,038,062 CAD |
Property Taxes
Parcel Number
09835-0026
Land Assessment
$356,292 CAD
Improvements Assessment
$3,681,770 CAD
Total Assessment
$4,038,062 CAD
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Newly Built Jamaica Estates Mixed-Use | 177-14 Wexford Ter
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