Rema Management Acquires Mixed-Use Property In Jackson Heights For $5M

The mixed-use property located at 82-06 Northern Boulevard in Jackson Heights has been sold for $5,000,000. The property has a total square footage of 33,760 and a price per square foot of $148. The building consists of 12,000 square feet, resulting in a price per buildable square foot of $416. The lot size is 16,000 square feet with dimensions of 160 ft x 100 ft. The property's zoning is R4 and C1-2, with a FAR of 2.11. The property is classified as tax class 4. The sale took place on 03/26/2021.

Summary of transation details

• Property Type: Mixed-use
• Transaction Amount: $5,000,000
• Market: Jackson Heights
• Buyer: Rema Management
• Seller: Show Lain Cheng
• BSF: 12,000
• PPBSF: $416
• FAR: 2.11
• Tax Class: 4
• Lot Size: 16,000
• Permits: Alteration type 2 (12/12/2018)
• Lot Dimensions: 160 ft x 100 ft

Rema Management, represented by their broker, successfully acquired the property from Show Lain Cheng. The transaction involved the exchange of $5,000,000 and included the transfer of ownership for the mixed-use property in Jackson Heights. The deal closed on 03/26/2021.