155-01 Jamaica Ave
Jamaica, NY 11432

We’re excited to present a prime development opportunity at 155-01 Jamaica Avenue, Jamaica, NY 11432. This strategically located property on the north side of Jamaica Avenue, between 153rd Street and Parsons Boulevard, offers a 3,144 sq. ft. retail building with 24’ of frontage. Beyond its current retail use, the property holds immense development potential, allowing for mixed-use, residential, commercial, and community facility ventures.

The property details include a lot size of approximately 25’ x 131’ (3,275 sq. ft.) and C6-3 zoning. Notably, the residential floor area ratio (F.A.R.) stands at 6.0, with the potential to reach 8.0 with an Inclusionary Housing Bonus. This translates to a residential buildable sq. ft. of
approximately 19,650 sq. ft., expandable to 26,200 sq. ft. with inclusionary housing. Additionally, the commercial F.A.R. is 8.0, providing for a commercial buildable sq. ft. of approximately 26,200 sq. ft., along with a community
facility buildable sq. ft. of 26,200. 

The financial aspects of the property include a NYC Tax Assessment for 22/23 at $302,400, with taxes amounting
 to $32,960. This property’s exceptional location and flexible zoning make it an enticing prospect for developers looking to capitalize on the vibrancy of Jamaica Avenue and explore diverse development opportunities. Now with the 485-x tax abatement back in place and the "City of Yes" this has become a strong development play at one of the cheapest price per square foot asking prices in the area!