Asset CRG Advisors is pleased to announce the successful sale of the property located at 148-15 89th Avenue, Jamaica, Queens, for $5,320,000. This transaction, facilitated by Managing Partners Sadya Liberow and Yuriy Ustoyev, reflects the growing demand for real estate in Jamaica, Queens, and the neighborhood's increasing appeal to investors and developers.
The property, which has a lot of square footage of 13,675 square feet, offers a total buildable square footage of 62,905, translating to a price of $84.57 per buildable square foot. Previously utilized as a parking lot, the site presents significant development potential for residential, mixed-use, or commercial projects.
Located near the courthouse and within walking distance of key public transportation hubs, including multiple subway lines, bus routes, and the Long Island Rail Road, the site enjoys a highly accessible position. Jamaica, Queens, is undergoing substantial growth, with numerous residential and commercial developments.
This sale highlights the growing investor interest in Jamaica, Queens, as a prime location for strategic real estate investments and developments.
