Queens, NY Ariel Property Advisors has been retained on an exclusive basis to sell 150-28, 150-30 Liberty Ave. and 299 Tuckerton St., a large-scale commercial/industrial assemblage located at the epicenter of Jamaica.
The assemblage – whose lot size totals 22,928 s/f while offering 354 ft. of wraparound street frontage – presents a rare opportunity for both owner-users and developers to capitalize on the high demand and shrinking supply of New York City commercial/industrial space.
150-28 Liberty Ave. is improved by a two-story, 8,625 s/f commercial building with a garage on Liberty Ave. 150-30 Liberty Ave. is improved by a 1,380 s/f storefront. The rest of the property is currently an open parking lot.
M1-4 zoning (FAR: 2.0) provides 45,856 buildable s/f, as-of-right. Ownership acquired 8,275 s/f of additional air rights from adjacent properties, bringing the total buildable area to 54,131 s/f for commercial or industrial use.
Exclusive agents Michael Tortorici, Sean Kelly, Jesse Greshin, Victor Sozio and Matthew Lev are representing the owner.
The assemblage enjoys access to name-brand retail and transportation options. Along Jamaica and Archer Aves. are credit retail tenants, such as McDonalds, Foot Locker, The Gap and Applebee’s. Major institutions like Jamaica Hospital & Medical Center, the Jamaica YMCA, New York City Finance Department, King Manor Museum and York College are all close to property.
The Jamaica Transit Center, which provides access to the E, J and Z subway lines, as well as the LIRR and AirTran, are less than a half mile from the property.
Within a 15-minute walk of the property, over 3,000 units are currently under construction for large-scale hotel or residential projects—presenting future owners with tremendous location upside. These developments include: Artimus Construction’s 379-unit project at 147-36 94th Ave., BRP Companies’ 669-unit Jamaica Crossing development, Century Development’s 70,000 s/f condominium development at 148-31 90th Ave., and Omni New York’s 400-unit development at 92-23 168th St.
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