Rockaway Beach resi site hits the market

Parcel totals more than 100,000 square feet

From left: Jason Meister and Rockaway Beach
From left: Jason Meister and Rockaway Beach

A 101,000-square-foot residential development in Rockaway Park has hit the market. Avison Young is marketing the property at 115-05 Rockaway Beach Boulevard and 165-187 Beach 115th, which is zoned for residential with a retail component.

The site currently holds three residential structures, but will be delivered vacant to the buyer. Jason Meister, a vice president at Avison Young, believes a condo building will most likely go up on the site.

Rockaway is seeing a slew of new real estate projects, Meister noted, particularly redevelopment made necessary by Hurricane Sandy. Not surprisingly, the beach is one of the main draws for the area.

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“Rockaway has become a real summer attraction for young people,” Meister said.

The area is attracting an increasing number of developers as well. One of the more notable recent projects: the Ocean Grande on the corner of Beach 117th Street and Rockaway Boardwalk, where units go for more than $1 million.

Typically, sales in Rockaway go for around $425 per square foot, said Meister. Since 2013, the average sales price in Queens has risen by 13 percent.