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A blog for breaking sales and neighborhood real estate news.

A mixed-use building at 90-07 Jamaica Avenue, located between 90th and 91st Streets in the Woodhaven neighborhood of Queens, was sold in an all-cash transaction valued at $910,000.

The two-story building contains approximately 2,696 square feet and sits on a 24’ x 108’ irregular lot.  It consists of one commercial space on the ground floor, currently leased to T-Mobile, and two one-bedroom apartments on the second floor.  Each tenant has their own boiler and electric and gas meters.  The sale price equates to approximately $338 per square foot and an 8% capitalization rate.

This property is ideally located on Jamaica Avenue just two blocks west of Woodhaven Boulevard near transportation and many neighborhood amenities.

β€œThe property garnered a high amount of interest due to the desirable location and solid retail tenant,” said Massey Knakal Director of Sales Stephen R. Preuss, who exclusively represented the seller in this transaction with Director of Sales Brian J. Sarath.

Click here for press release

Neighborhoods: Woodhaven/ Agents: Stephen Preuss