Surjeet Kaur Purchases Development Site In Jamaica From Alfred Basal For $3.25M

The property asset involved in the transaction is a development site located at 14305 Remington Street in Jamaica. The sale price was $3,250,000, and it encompasses a total building square footage of 3,920, with a price per square foot of $829. The market for this transaction is Jamaica, and the property has a buildable square feet of 40,392 due to the new R7X zoning as of right.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $3,250,000
• Buyer: Surjeet Kaur
• Seller: Alfred Basal
• Broker: Jonah Corney - Rosewood Realty Group
• Building Square Feet: 3,920
• Price Per Building Square Foot: $829
• Buildable Square Feet: 40,392
• Closing method: All cash
• Closing period: 45 days
• Tenants in place for another: 4 months

This transaction involved key individuals such as the buyer, Surjeet Kaur, and the seller, Alfred Basal. The deal was facilitated by Jonah Corney from Rosewood Realty Group, who represented the broker in this transaction. Notably, this property is the first development site to trade in Jamaica since the passing of the Jamaica plan.