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Peter Abowitz Acquires Development Site In Jamaica Queens For $17 Million From Chetrit Group And Peter Kulka

Property Image
SOLD
$17,000,000

New York

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Development Site
Sold
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Property Image
SOLD

Peter Abowitz Acquires Development Site In Jamaica Queens For $17 Million From Chetrit Group And Peter Kulka

147-27 Archer Avenue

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Development Site
Sold
the dealdetailscomps

Summary

NEW YORK
Asset Type:Development Site
Transaction Type:Sale

A development site located at 147-27 Archer Avenue in Jamaica, Queens was sold for $17,000,000. The site spans approximately 274,837 square feet, resulting in a per square foot price of $62. A 359-unit residential project is planned for the site, which is linked to a 35-year 421-A tax incentive.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $17,000,000
  • Address: 147-27 Archer Avenue
  • Market: Jamaica, Queens
  • Buyer: Peter Abowitz
  • Seller: Joseph Chetrit - Chetrit Group & Peter Kulka
  • BSF: 274,837
  • PPBSF: $62

Peter Abowitz conducted the purchase through Archer Ave Holdings LLC, acquiring the property from the Chetrit Group and Peter Kulka’s entity. Their joint efforts facilitated this transaction, highlighting the involvement of key players in the development site exchange.

Players

Chetrit Group
Chetrit Group
SELLER

Details

SOLD
IMAGE: Joseph Chetrit DATE: 02/27/2026 ADDRESS: 147-27 Archer Avenue MARKET: Jamaica, Queens ASSET TYPE: Development Site BUYER: Peter Abowitz SELLER: Joseph Chetrit - Chetrit Group & Peter Kulka SALE PRICE: $17,000,000 BSF: 274,837 ~ PPBSF: $62 NOTE: Peter Abowitz, through Archer Ave Holdings LLC, paid $17M to the Chetrit Group and Peter Kulka’s entity for a three-parcel development site at 147-27 Archer Avenue in Jamaica, Queens, where a 359-unit residential project is planned and tied to a 35-year 421-A tax incentive.

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