NEW YORK, NY – November 20, 2018 – Ariel Property Advisors has facilitated the sale of The Liberty-Tuckerton Assemblage, which consists of 3 commercial/industrial parcels located at 150-28 Liberty Avenue, 150-30 Liberty Avenue and 299 Tuckerton Street in the heart of Jamaica, Queens.

The lots span approximately 22,928 square feet and boast 354 feet of wraparound street frontage. M1-4 zoning (FAR: 2.0) provides 45,856 buildable square feet, as-of-right. Previous ownership acquired 8,275 square feet of additional air rights from adjacent properties, bringing the total buildable area of the property to approximately 54,131 square feet for commercial or industrial use.

The assemblage sold for $5.975 million, which translates to approximately $110 per buildable square foot.

Exclusive agents Michael A. Tortorici, Sean R. Kelly, Victor Sozio, Matthew Lev and Alexander Taic of Ariel Property Advisors represented the owner, a private company, and procured the buyer, The Sandhu Group, led by Tejpal Sandhu.

“The sale of The Liberty-Tuckerton Assemblage is another major step forward in the continuing evolution of Jamaica from a busy transit hub to a vibrant commercial and residential destination,” said Michael A. Tortorici, Executive Vice President at Ariel Property Advisors.

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. Major institutions like Jamaica Hospital & Medical Center and York College are a short walk from the property. The area has also seen a surge of development in recent years, including Artimus Construction’s 379-unit project at 147-36 94th Avenue, BRP Companies’ 669-unit Jamaica Crossing development, Century Development’s 70,000 square foot condominium development at 148-31 90th Avenue, and Omni New York’s 400-unit development at 92-23 168th Street.