Charles Rutenberg Realty Inc
Edwin Torres, Charles Rutenberg Realty IncPhone: (631) 514-1531
Email: [email protected]
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listing
1 of 5
CommercialFor Sale
$3,750,000
101-01 Jamaica Avenue
Richmond Hill, NY 11418
Listed by: B Square Realty, 646-889-9988
MLS: OneKey MLS
Est. Mortgage
$19,457/mo

This prime 8,734 square-foot corner lot presents a rare development opportunity in a high-demand location. Currently approved for a four-story building with 20 residential units, the property offers significant potential for expansion. With a revised architectural plan, the space can be optimized without requiring a variance, allowing for greater flexibility and maximizing value. Developers have the option to build up to 34 affordable housing units, benefiting from 485(x) tax abatements and Opportunity Zone incentives, or pursue a mixed-use development featuring a 4,000-square-foot community facility alongside 25 market-rate apartments. The strategic location and zoning flexibility make this an exceptional investment opportunity.

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Information courtesy of B Square Realty is subject to verification and is not guaranteed.
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