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8802 Sutphin Blvd
Jamaica, NY 11435
Corner Retail/Medical/Mixed-Use Development · Land For Sale
·
0.19 AC
Investment Highlights
- Across From Queens County Supreme & Civil Court Houses
- Transportation options are abundant with direct access to the E, F, J, Z Subway Lines, LIRR, the Air Train Station, and major highways.
- Located in Downtown Jamaica’s Burgeoning Commercial Corridor
- C4-4A Zoning permits a veritable treasure trove of development possibilities.
- High vehicle and foot traffic
- 180’ Linear Feet of Wraparound Frontage
Executive Summary
Now with the 485-x tax abatement back, and the oncoming "City of Yes" this makes a fantastic development site in one of the most heavily trafficked streets of Queens. Since the Unit count would be below 99 units, 20% affordable at 80% of AMI would earn a 38 year tax abatement. In the interim, if you weren't ready to build quite yet, you can take advantage of the lucrative daily parking business which is fully packed every day the courts are open.
Property Facts
3 Lots Available
Lot 6
| Lot Size | 0.06 AC |
| Lot Size | 0.06 AC |
Prime 485-x Development Opportunity, 20% affordable component necessary for 38 year abatement @ 80% AMI. Located in Downtown Jamaica’s Burgeoning Commercial Corridor, Currently a Licensed Parking Lot. Total Combined Lot Footprint - 8,107 Sq. Ft.
Lot 8
| Lot Size | 0.06 AC |
| Lot Size | 0.06 AC |
Prime 485-x Development Opportunity, 20% affordable component necessary for 38 year abatement @ 80% AMI. Located in Downtown Jamaica’s Burgeoning Commercial Corridor, Currently a Licensed Parking Lot. Total Combined Lot Footprint - 8,107 Sq. Ft.
Lot 9
| Lot Size | 0.06 AC |
| Lot Size | 0.06 AC |
Located in Downtown Jamaica’s Burgeoning Commercial Corridor, Currently a Licensed Parking Lot. Total Combined Lot Footprint - 8,107 Sq. Ft.
Description
Introducing an extraordinary development opportunity at 88-02/10 Sutphin Boulevard, Jamaica. Occupying a prestigious position at the Southwest corner of Sutphin Boulevard and 88th Avenue, this unparalleled property comprises three adjacent lots with a total footprint of 8,107 Sq. Ft. The current configuration presents three licensed parking lots (G6), catering to the Queens County Supreme & Civil Courts. The C4-4A Zoning permits a veritable treasure trove of development possibilities. This Zoning designates an As of Right Residential F.A.R of 3.45, Inclusionary Housing F.A.R of 4.6, and a Commercial/Community Facility F.A.R of 4.0. This creates an exciting spectrum of possibilities for the discerning developer. The significant development potential promises 27,969 Sq. Ft. of Residential buildable area, 37,292 Sq. Ft. of Inclusionary Housing buildable area, and 32,428 Sq. Ft. of Commercial or Community Facility buildable area. The strategic location in Downtown Jamaica cannot be overstated. The property is directly opposite the Queens County Supreme and Civil Courthouses, guaranteeing significant foot traffic. Transportation options are abundant with direct access to the E, F, J, Z Subway Lines, LIRR at Sutphin Blvd & Archer Avenue, the Air Train Station, and major highways. Furthermore, the area has experienced a significant residential development boom leading to an increased demand for amenities, retail outlets, high-quality office spaces, and community facility locations. This impeccably located development site presents an optimal project for a visionary developer aiming to leverage the area’s growth, market need & high rents. The adaptable zoning permits a potentially transformative project in one of Queens’ most vibrant and burgeoning neighborhoods, experiencing an extraordinary volume of foot traffic. 88-02/10 Sutphin Boulevard, Jamaica stands as an outstanding opportunity for those who seek not only to invest but also to contribute to the evolution of this dynamic area.
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $304,380 | Total Assessment | $304,380 |
Property Taxes
