Rockledge Acquires Multifamily Properties In Jamaica, Queens For $10.6M

The recently closed property sale in Jamaica, Queens involved three addresses: 90-16 171st Street, 90-75 179th Street, and 106-15 217th Street. The multifamily property, encompassing a total of 46,790 square feet, was sold for $10,595,000, resulting in a price per square foot of $226. The property consists of 72 units, with an average price per unit of $147,152. The sale took place on October 7, 2021.

Summary of Transaction Details

• Property Type: Multifamily
• Transaction Amount: $10,595,000
• Square Feet: 46,790
• Price per Square Foot: $226
• Number of Units: 72
• Price per Unit: $147,152

The buyer of the property was Rockledge, represented by David Kaye, Joe Listhaus, Rami Polinsky, and Eli Greenberg from Medallion Real Estate. The seller was Noah Freedman. The transaction was facilitated by Moses Sioni from Value Partners. Additionally, Rockledge is currently under contract for over 200 units across multiple buildings, actively seeking value-add and mismanaged commercial real estate opportunities in New York City and the surrounding areas. To get in touch with Rockledge regarding potential deals, you can reach out to them at [email protected] or follow them on Instagram @RockledgeCRE for updates.