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92-30 165th St - Archer Square 1.78 Acres of Commercial Land Offered at $67,840,501 CAD in Jamaica, NY 11433
INVESTMENT HIGHLIGHTS
- Size & Scale - 600,000+ ZFA Development Site
- Transit Oriented Development - Short Walk to Jamaica Center Station (E, J, Z subways)
- Rare Footprint & Frontage - 78,000 SF Lot, 1.8-acres
EXECUTIVE SUMMARY
PROPERTY FACTS
| Price | $67,840,501 CAD | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Mixed Use |
| Sale Condition | Redevelopment Project | Total Lot Size | 1.78 AC |
| No. Lots | 1 | Opportunity Zone |
Yes
|
| Property Type | Land | ||
| Zoning | C6-2, R* - Potential zoning floor area of +/- ~504,000 SF as-of-right or +/-604,000 through the Universal Affordability Preference (UAP). | ||
| Price | $67,840,501 CAD |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Mixed Use |
| Total Lot Size | 1.78 AC |
| Opportunity Zone |
Yes |
| Zoning | C6-2, R* - Potential zoning floor area of +/- ~504,000 SF as-of-right or +/-604,000 through the Universal Affordability Preference (UAP). |
1 LOT AVAILABLE
Lot
| Price | $67,840,501 CAD | Lot Size | 1.78 AC |
| Price Per AC | $38,180,013.89 CAD |
| Price | $67,840,501 CAD |
| Price Per AC | $38,180,013.89 CAD |
| Lot Size | 1.78 AC |
Archer Square is a ~600,000 buildable SF mixed-use development site situated at the epicenter of Downtown Jamaica.
DESCRIPTION
The Property is currently operating as a multi-level parking garage and is situated on a ~1.8-acre (~78,000 SF) parcel with over 575’ of wraparound frontage along Archer Avenue & 165th Street. The Proper ty sits in C6-2 zoning with an R8 equivalency, within the Special Downtown Jamaica District, with a potential zoning floor area of +/- ~504,000 SF as-of-right or +/-604,000 through the Universal Affordability Preference (UAP). The scale and footprint of the Property allow for several rare benefits in a new development. In an emerging area like Downtown Jamaica, there is a demand for new construction residential residences, professional space, and retail. Unlike other neighborhoods in Queens which are at capacity in terms of growth, Jamaica is in a place where it not only has the demand but the economic drivers to facilitate that growth and improve quality of life.
PROPERTY TAXES
| Parcel Number | 10151-0039 | Improvements Assessment | $4,523,666 CAD |
| Land Assessment | $1,268,199 CAD | Total Assessment | $5,791,865 CAD |
PROPERTY TAXES
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92-30 165th St - Archer Square
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