BRP Development Corp. Acquires Mixed-Use Development Site In Jamaica, Queens For $55M

A mixed-use development site located at 16-305 to 16-325 Archer Avenue in Jamaica, Queens, New York has been sold for a price of $55,000,000. The property spans 676,552 square feet and has a price per buildable square foot (PPBSF) of $81. The seller of this site is Jamaica Towers, LLC, represented by Chris Xu. The buyer of the property is BRP Development Corp., represented by Geoff Flournoy and Meredith Marshall from Cushman & Wakefield, along with Stephen R. Preuss.

Summary of Transaction Details:

• Property Type: Mixed-Use Development Site
• Transaction Amount: $55,000,000
• Address: 16-305 to 16-325 Archer Avenue, Jamaica, Queens, New York
• Market: Jamaica, Queens
• Asset Type: Mixed-Use Development Site
• BSF: 676,552 square feet
• PPBSF: $81
• Seller: Jamaica Towers, LLC - Chris Xu
• Buyer: BRP Development Corp. - Geoff Flournoy & Meredith Marshall, Cushman & Wakefield's Stephen R. Preuss

The transaction involved key individuals and companies such as Chris Xu from Jamaica Towers, LLC as the seller, and Geoff Flournoy, Meredith Marshall, and Stephen R. Preuss representing BRP Development Corp. as the buyer. The sale of the mixed-use development site at 16-305 to 16-325 Archer Avenue in Jamaica, Queens demonstrates a significant investment opportunity in the area.