Jamaica development site hits the market for $24M

Pricey listing latest sign that interest in neighborhood is on the rise
December 09, 2014 01:42PM

A property in Downtown Jamaica that holds more than 420,000 buildable square feet listed for an eye-popping $24 million.

World Wide Food Products, a seafood company, is looking to sell the 35,000-square-foot building at 14707 94th Avenue, according to DNAinfo. The asking price is considered steep for the area, the website also reported.

Developers have increasingly expressed interest in Jamaica, one broker told the website. In October, Flushing-based developer Chris Xu bought a $22 million property at Archer Avenue and Guy Brewer Boulevard.

The site on 94th Avenue and Sutphin Boulevard is near the AirTrain station, where construction on two developments is expected to start next year. A 24-story Hilton Garden Inn is coming to the area as well as a residential project that will bring 580 mixed-income apartments to the neighborhood and more than 100,000 square feet of retail space.[DNAinfo]Claire Moses