School Construction Authority Acquires Development Site In Richmond Hill, Queens For $18M

A development site located at 120-08 & 120-20 Jamaica Avenue in Richmond Hill, Queens, has been sold for $18,000,000. The property spans 41,000 square feet, resulting in a price per square foot of $439.

Summary of Transaction Details:

• Property Type: Development Site
• Transaction Amount: $18,000,000
• Square Footage: 41,000
• Price Per Square Foot: $439
• Address: 120-08 & 120-20 Jamaica Avenue, Richmond Hill, Queens
• Market: Richmond Hill, Queens

The buyer of the property is the School Construction Authority, while the seller is the Beige Family. The buyer was represented by Richard Eaddy, Joseph Byrnes Savills, and Ira Schuman of Savills. On the other hand, the seller was represented by Adelaide Polsinelli and Michael Cardillo of Compass.