Log In/Sign Up
Your email has been sent.
NYC-Leased Office with Conversion Potential 16515 Archer Ave 101,403 SF 100% Leased Office Building Jamaica, NY 11433 $21,500,000 ($212.03/SF)
Investment Highlights
- Full Blockfront Presence on Archer Avenue
- Favorable Expense Structure
- Near-Term Income Backed by the City of New York
- Significant Redevelopment and Conversion Potential
Executive Summary
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.
Contact our agents for details or to schedule an inspection.
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.
Contact our agents for details or to schedule an inspection.
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Office
Building Size
101,403 SF
Building Class
C
Year Built
1973
Price
$21,500,000
Price Per SF
$212.03
Percent Leased
100%
Tenancy
Multiple
Building Height
5 Stories
Typical Floor Size
20,281 SF
Building FAR
4.12
Lot Size
0.57 AC
Opportunity Zone
Yes
Zoning
C6-2 (R8) - Not subject to mandatory inclusionary housing.
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Property Taxes
| Parcel Number | 10155-0029 | Improvements Assessment | $5,915,160 |
| Land Assessment | $1,108,350 | Total Assessment | $7,023,510 |
Property Taxes
Parcel Number
10155-0029
Land Assessment
$1,108,350
Improvements Assessment
$5,915,160
Total Assessment
$7,023,510
1 of 4
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
Presented by
NYC-Leased Office with Conversion Potential | 16515 Archer Ave
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Your message has been sent!
Activate your LoopNet account now to track properties, get real-time alerts, save time on future inquiries, and more.