Cushman & Wakefield has been retained on an exclusive basis to market The Queens Pinnacle at Jamaica Station for sale.
The 900,000-buildable-square-foot, transit-oriented development site is located in a qualified opportunity zone at 94-01 Sutphin Boulevard in Downtown Jamaica, Queens.
A Cushman & Wakefield team of Stephen R. Preuss, Kevin Schmitz, Kevin Louie and Andreas Efthymiou will be leading marketing efforts on behalf of the property’s seller.
“This site is desirable for a myriad of uses, including market rate and affordable housing, medical office, airport-related office, public or private school, grocery, transit-oriented retail and more,” said Preuss. “Located just across from Jamaica Station, this site is incredibly conveniently located.”
The Queens Pinnacle is a mega-scale mixed-use development site that sits on an unimproved 1.4-acre parcel with an estimated 900,000 gross buildable square feet and up to 742,000 square feet of zoning floor area. The site boasts 360 degree visibility and 900 feet of frontage.
“This is one of the largest transit-oriented development sites in a qualified opportunity zone across the entire country. This site would provide ideal living accommodations for over 500,000 daily commuters in the Jamaica area and convenient placement for potential corporate headquarters,” added Schmitz.
The site is eligible for the 35-year Affordable New York tax benefit and FRESH tax incentives for qualifying grocery space, which can provide tax savings and allow for an increased zoning floor area.
Located adjacent to Jamaica Station, the site is accessible by the JFK AirTrain, the Long Island Rail Road and the E, J, Z and F subway lines.
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