8926 162nd St
Jamaica, NY 11432
$110/BSF in Downtown Jamaica · Land For Sale · 0.42 AC

Cushman & Wakefield has been retained on an exclusive basis for the sale of 89-26 162nd Street, an approximately 167,000 buildable square foot as of right development site in Downtown Jamaica, Queens. 89-26 162nd Street has been subdivided from an original lot of approximately 44,683 square feet. The approximate lot square footage after the subdivision is 18,325 square feet, or .42 acres. Currently on the property exists an approximatley 27,659 square foot building including a two-family home which will be delivered vacant. After the subdivision, the subject property had all remaining air rights transferred from the original lot which equates to approximately 167,020 buildable square feet, all as of right. All community facility and inclusionary housing designated buildable square footage is allotted to the original lot and do not apply to the subject lot. All devel-opment metrics are to be verified with an architect. The site is primed for an extremely efficient development site which can be constructed conceptually with a single cellar with no need for a sub-cellar to satisfy parking requirements. This is a rare opportunity in the Downtown Jamaica district that requires only as of right buildable square footage and no requirement for community facility or inclusionary housing designation. 89-26 162nd Street is an ideal location less than one block from Jamaica Avenue and a block and a half south of Hillside Avenue. Jamaica Center is located less than a half mile walk away offering access to the E, J, and Z subway trains. The Jamaica LIRR is located less than a mile away and is easily accessible by bus, subway or by foot. This area of Downtown Jamaica is the ideal location for residential development as there is a high demand for new construction residential space. This area offers the convenience of easy access to Jamaica Avenue with retailers including Applebee’s, Sprint, Taco Bell, Burger King, Foot Locker, and Walgreens among others. This a rare opportunity to capitalize on the growing need for new developments and the favorable zoning this property has to offer. Property inspections are by appointment only. Please inquire within.