Prime Corner 122 Unit Mixed-Use Building, Turn-Key Condition
Prime Corner Location | Package of Four Mixed-Use Buildings
The New York City multifamily market started the fourth quarter of 2018 leaving transaction volume unchanged while posting a substantial increase in dollar volume. Comparing the year-over-year average of the trailing 6 months, the average transaction volume remained at 38 transactions, while the average dollar volume increased by nearly 27% to $796.37 million from $628.58 million during the prior year.
New Development Site In Prime Belmont Area:
4477 3rd Avenue
This 72.5’ x 100’ asset is located in an Inclusionary Housing Zone, that allows for a boost in FAR if developed with an affordable component.
Question of the Month: Is Jamaica ready for the jolt in demand for development as rezoning and attractive pricing gains attention?
Real estate investors continue to devour development sites in Queens, with their sights set on above-average returns. As land in some neighborhoods in New York City look pricey, builders will increasingly seek land in regions that are best positioned to appreciate, such as Jamaica.
2 Buildings w/ 18 Fully Destabilized, Free Market Apartments:
963 & 969 Columbus Avenue
Located in the Manhattan Valley section of the Upper West Side, this package of 2 mixed-use walk-up buildings spans a total of approximately 18,747 gross square feet and contains 18 free-market apartments and 2 ground-floor commercial units.