Property Details

Overview

Two contiguous, mixed-use apartment buildings on 82 nd and 83 rd Street with a total of 55, 000 SF combined (27, 500 SF each) and 62 units (56 residential and 6 commercial), located in prime location of Jackson Heights, New York City. Most of the units are Free Market. New Roof in 2019. Conveniently located near shopping, schools and transportation. In a supply-constrained market with high barriers to entry, the property is a compelling investment opportunity. Location is the biggest amenity of this fee simple property. Rents in NYC have soared recently. The overflow of Manhattan has found its way to Jackson Heights. The eight towers, five-story buildings are situated on a large site of 0.60 acres (26, 000 SF). The shared interior, green landscaped courtyards offer residents respite from bustling city life. The property’s desirability further increased for tenants due to its commanding view along the Avenue, which has recently been converted by the City into a Promenade where residents can stroll for a leisurely walk or jog or push strollers as vehicular traffic has been restricted. Amenities include gated entrances and a central landscaped courtyard. Within 3 blocks of a subway station, and within a 20-minute drive to midtown Manhattan.