148-36 89th Avenue,Jamaica, NY 11435
Jamaica, NY 11435
Description
Ideal 1031 replacement property with predictable cash flow. Turnkey asset structured for seamless tax deferred exchanges.Free Market: Prime Transit-Oriented Bulk Condo Offering:Downtown Jamaica, Queens | 22 Residential Units & 8 Parking SpacesAn exceptional investment opportunity in one of New York City’s most dynamic and accessible transithubs. This bulk condominium package delivers immediate scale, majority asset control, and multiple exit strategies.The Offering:Discover a modern, eight-story elevator condominium building designed for urban convenience. This package features the vast majority of the building's inventory, presenting a rare turnkey acquisition for institutional investors, 1031-exchange buyers, or preservation funds. The Portfolio: 22 Premium Residential Units + Two Media/Recreational Rooms + 8 On-Site Parking Spaces. The Building: 8-Story Elevator Asset with a Full Cellar and 22 total apartment units. The Control: Immediate majority control of the condominium board.Unmatched Connectivity.Situated in the absolute heart of Downtown Jamaica, this property boasts a near-perfect transit profile.Residents enjoy effortless commutes across New York City and Long Island.*2 Blocks to F Train (Sutphin Blvd/Hillside)*4 Blocks to F Train (Parsons Blvd/Hillside)*Short Walk to Jamaica Center Hub (E, J, Z Trains & LIRR) Subway Access: Immediate access to the F, E, J, and Z lines. Commuter Rail: Minutes from Jamaica Station (LIRR) for rapid transit to Manhattan, Brooklyn,and JFK Airport. Surface Transit: Steps from major bus lines, including the Q20A, Q20B, Q40, and Q43 onSutphin Boulevard.Investment Highlights: High-Yield Rental Strategy: Capitalize on the historic rental demand in Queens with a highdensity, low-vacancy asset. Fractionalized Exit Strategy: Hold for immediate cash flow and retail individual condo units overtime to maximize total ROI. Rapidly Growing Neighborhood: Benefit from the continuous public and private investments shaping Downtown Jamaica's commercial and residential landscape.*Excellent opportunity.
Details
| MLS # | 1005582 |
|---|---|
| Listing Type | For Sale |
| Style | Multi-Family |
| Building Name | Parthenon Two |
| Sub-Type | Resale |
| Status | Active |
| Year | 2020 |
| Days On Site | 87 |
| Listing Provided By | Compass Greater NY LLC | Sarah Kim |
Features
| SQ Feet | 31,919 |
|---|---|
| Basement | Y |
| Story(s) | 8 |
| Units | 22 |
| Building(s) | 1 |
| Zoning | R7A |
| Acreage | 0.17 |
Interior
| Cooling | Central Air, Electric |
|---|---|
| Heating | Electric |
Exterior
| Security Features | Other, Video Cameras |
|---|---|
| Construction Materials | Brick, Stone, Stucco |
| Lot Features | Near Public Transit, Near School, Near Shops |
Parking
| Parking Features | Assigned, Garage Door Opener, Waitlist |
|---|
Utilities
| Utilities | Electricity Available, Natural Gas Available, Sewer Connected, Trash Collection Public, Water Connected |
|---|---|
| Sewer | Public Sewer |
Location
| Community Features | Park, Playground |
|---|
Taxes
| Tax Year | 2025 |
|---|---|
| Tax Annual Amount | 249257 |
| Tax Lot | 64 |
Area Information
| State | NY |
|---|---|
| County | Queens |
| City | Jamaica |
| Zip Code | 11435 |
| Listing VS Median (in 11435) | |
Price: $12,000,000 low | high Med: $349,000 sqft: 31,919 low | high Med: 750 $ / sqft: $376 low | high Med: $465 On site: 87 low | high Med: 261 | |
Market Activity 11435
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Learn More About This Property
| State | NY |
|---|---|
| County | Queens |
| City | Jamaica |
| Zip Code | 11435 |
| Listing VS Median (in 11435) | |
Price: $12,000,000 low | high Med: $349,000 sqft: 31,919 low | high Med: 750 $ / sqft: $376 low | high Med: $465 On site: 87 low | high Med: 261 | |