Jamaica development site hits the market for $24M

Pricey listing latest sign that interest in neighborhood is on the rise

TRD New York /
Dec.December 09, 2014 01:42 PM

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

 
 

Related Articles

arrow_forward_ios
S. Lawrence Davis and 160-05 Archer Avenue (Google Maps)

Shorewood scores $88M construction loan for first Opportunity Zone project

Shorewood scores $88M construction loan for first Opportunity Zone project
Joseph Chetrit and 88-20 153rd Street (Credit: Getty Images, Google Maps)

Chetrit plans fifth apartment building at Jamaica hospital site

Chetrit plans fifth apartment building at Jamaica hospital site
147-07 94th Avenue in Jamaica and Pheonix Realty Group president Keith Rosenthal (Credit: Google Maps)

Phoenix Realty, Artimus snag $181M loan for Jamaica resi project

Phoenix Realty, Artimus snag $181M loan for Jamaica resi project
Joseph Chetrit and a rendering of 150-13 89th Avenue (Credit: Getty Images)

Chetrit nabs $200M refi for huge Jamaica project

Chetrit nabs $200M refi for huge Jamaica project
Jamaica is getting another resi development

Jamaica is getting another resi development

Jamaica is getting another resi development
Jamaica resi project lands $67M in loans

Jamaica resi project lands $67M in loans

Jamaica resi project lands $67M in loans
New 151-key Hilton hotel coming to Jamaica

New 151-key Hilton hotel coming to Jamaica

New 151-key Hilton hotel coming to Jamaica
Mattone puts Jamaica retail complex on the market for $175M

Mattone puts Jamaica retail complex on the market for $175M

Mattone puts Jamaica retail complex on the market for $175M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...