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Posted: July 4, 2017
National Standard Abstract closes $70 million deal for mixed-use project in Queens
National Standard Abstract
Queens, NY Osei Rubie, president and Nadir Rubie, business development executive of National Standard Abstract have closed a sale in the Jamaica neighborhood for $70 million. The project is a mixed-use, mixed-income, residential/community facility/commercial development, and will participate in the NYC Inclusionary Housing Program. The project will contain 162 residential rental units available to households with a range of incomes from 50% AMI to 110% AMI. Up to 33% of such units will be inclusionary housing units. In addition, the project will include 8,500 s/f of community facility space to be used by the First Jamaica CUDC for community programs, and 15,000 s/f of community facility/commercial space proposed to provide health facility or related services to the community.
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