Asset CRG Advisors Facilitates Sale Of Prime Development Site In Jamaica, Queens For $59.7M

The recent sale of a development site in Jamaica, Queens has attracted significant attention in the real estate market. Located at 9401 Sutphin Blvd., the site offers a prime location adjacent to the Sutphin Blvd transit hub. The property spans over a 60,000+ square foot lot and holds immense potential for residential and commercial development. With an estimated 601,380 as of right buildable square feet, this site is one of the largest remaining qualified opportunity zoned development sites in the country.

Summary of transation details

• Property Type: Development Site
• Transaction Amount: $59,700,000
• Address: 9401 Sutphin Blvd.
• Market: Jamaica, Queens

Leading the transaction were Yuriy Ustoyev and Sadya Liberow from Asset CRG Advisors. As representatives from Asset CRG Advisors, they successfully facilitated the sale of this notable development site. Their expertise and strategic approach were crucial in navigating the complexities of this deal.

It is worth noting that Asset CRG Advisors currently has over 300,000 buildable square feet in NYC under contract. The company is actively seeking development sites for their clients, aiming to commence construction before the expiration of the 421-A Tax abatement. This ongoing commitment to providing valuable opportunities for their clients positions Asset CRG Advisors as a trusted and reliable partner in the real estate market.

To learn more about this transaction or explore other development opportunities, please contact:

Sadya Liberow
646.363.6175
[email protected]

Yuriy Ustoyev
718.838.4842
[email protected]