9209 Union Hall Street, Jamaica, NY 11433

Jamaica, Jamaica, New York 11433

$2,300,000  

Listing ID Number

25727

Property Description

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 92-09 Union Hall Street in Downtown Jamaica.

92-09 Union Hall Street is a vacant lot of approximately 2,312 square feet with 33 feet of frontage on Union Hall Street. It is located one lot south of Jamaica Avenue and sits in an Opportunity Zone. The property allows up to ~13,876 buildable square feet as of right for residential development, and ~18,501 buildable square feet as of right, for commercial development. Additionally, the site has plans for a 15-story hotel with 47 rooms equating to approximately 21,578 square feet. The plans were previously approved and have recently expired.

The property sits in a prime location, just one block from Jamaica Center where the E J Z subway lines can be easily accessed. This offers easy accessibility throughout Queens and to the Jamaica LIRR. 92-09 Union Hall Street is amongst several new developments coming to the Downtown Jamaica area including Archer Towers, The Crossing, Aloft Element Hotel, Courtyard Marriott, and several other mixed-use properties/hotels.

Downtown Jamaica is experiencing a development boom and increased attention for its accessibility and convenience for NYC commuters. Downtown Jamaica is expected to see over 5 million square feet of new development within the next several years. The added benefit of an Opportunity Zone provides an investor with an added incentive and upside for the property.

Property inspections are by appointment only. Plans and survey available upon request, please inquire within.

Overview

Building Type:Development/Conversion Sites
Location:Downtown Jamaica
Block/Lot:10102/80
Lot Dimensions:33 x 70
approx.
Lot Sq Ft:2312
approx.
Buildable Sq. Ft:18,501.76
approx.
Zoning:C6-3 (R9)
Residential FAR:6.0
Commercial FAR:8.0

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Stephen R. Preuss
Senior Managing Director
(718) 512 2118
stephen.preuss@cushwake.com

Kevin Schmitz
Senior Associate
(718) 512 2628
kevin.schmitz@cushwake.com


Property Images

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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.