Rosdev Group Acquires Industrial Property In Jamaica For $13M

The industrial property located at 144-06 Rockaway Boulevard and 112-06 Sutphin Boulevard in Jamaica has been sold for a price of $13,000,000. The property has a lot size of 12,617 square feet with dimensions measuring 120 ft x 106 ft. It is zoned as R5D and C2-3, allowing for a variety of uses. The transaction took place on August 17, 2021.

Summary of transaction details

• Property Type: Industrial
• Sale Price: $13,000,000
• Lot Size: 12,617 sq ft
• Zoning: R5D, C2-3

The buyer of the property is Rosdev Group, while the seller is Pace Companies. The building's total square footage is reported to be 33,128 square feet, with a price per square foot (PPSF) of $392. The total buildable square footage (BSF) is 59,494, resulting in a price per buildable square foot (PPBSF) of $218. The floor area ratio (FAR) is 1.01, indicating that the property has slightly more floor area than allowed by the zoning regulations. The tax class of the property is 4.

It is worth noting that the property underwent an alteration type 2 permit on May 6, 2004.