8971 164th Street, Jamaica, NY 11432
sale
$8,950,000
|
Other
Courtesy Of Corcoran
89-71 164th Street presents a compelling as-of-right development opportunity in the heart of Jamaica, Queens. The property sits on an approximately 14,200 square foot lot and is located within a C6-2 zoning district, allowing for substantial future development potential. Based on the lot size and applicable zoning regulations, the site supports approximately 85,000 buildable square feet, subject to zoning verification and architectural analysis. The property benefits from strong frontage, efficient lot dimensions, and proximity to major transit, Jamaica Avenue retail corridors, and institutional demand drivers. The current asking price reflects a land basis of approximately $112 per buildable square foot, positioning the offering at or below prevailing market metrics for comparable C6-zoned development sites in Jamaica and surrounding submarkets. Recent land transactions in the area have generally traded in the $110-$130 per buildable square foot range, with premiums achieved for sites offering as-of-right density, transit adjacency, and scalable floor plates. This offering is well suited for mixed-use, hotel, or commercial development, subject to approvals. Preliminary structural and vertical expansion studies further enhance the site's value proposition, though purchasers are encouraged to conduct their own due diligence. All zoning, FAR, and buildable area figures are estimates and subject to confirmation by purchaser's architect, attorney, and zoning consultant.
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Property Features
- Age: Over 50 Years Old
- Amenities: Basement
- Exterior Type: Block
- MLSID: 957832
- Rooms: Basement
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