NYC LARGE PRIME DEVELOPMENT SITES FOR SALE€¦ · 138-41 JAMAICA AVENUE - JAMAICA, NY 505 UTICA AVENUE - EAST FLATBUSH, NY 219-44 HILLSIDE AVENUE - QUEENS VILLAGE, NY ... construction

JAMAICA :: EAST FLATBUSH :: QUEENS VILLAGE

NYC LARGE PRIME DEVELOPMENT

SITES FOR SALE

OFFERING MEMORANDUM

UTIC

A A

VE

E 51 ST

QU

EENS BLVD

139TH ST

JAMAICA AVE

HILLSIDE AVE

138TH ST

VA

N W

YCK

EXPWY

BRA

DD

OC

K AVE

HILLSIDE AVE

89TH AVE

SPRINGFIELD BLVD

138-41 JAMAICA AVENUE - JAMAICA, NY 505 UTICA AVENUE - EAST FLATBUSH, NY 219-44 HILLSIDE AVENUE - QUEENS VILLAGE, NY


FOR MORE INFORMATION CONTACT

MARK ZUSSMAN +1 646 522 1230 | [email protected]

AFFILIATED BUSINESS DISCLOSURE AND CONFIDENTIALITY AGREEMENT

Affiliated Business DisclosureCBRE, Inc. operates within a global family of companies with many subsidiaries and related entities (each an “Affiliate”) engaging in a broad range of commercial real estate businesses including, but not limited to, brokerage services, property and facilities management, valuation, investment fund management and development. At times different Affiliates, including CBRE Global Investors, Inc. or Trammell Crow Company, may have or represent clients who have competing interests in the same transaction. For example, Affiliates or their clients may have or express an interest in the property described in this Memorandum (the “Property”), and may be the successful bidder for the Property. Your receipt of this Memorandum constitutes your acknowledgement of that possibility and your agreement that neither CBRE, Inc. nor any Affiliate has an obligation to disclose to you such Affiliates’ interest or involvement in the sale or purchase of the Property. In all instances, however, CBRE, Inc. and its Affiliates will act in the best interest of their respective client(s), at arms’ length, not in concert, or in a manner detrimental to any third party. CBRE, Inc. and its Affiliates will conduct their respective businesses in a manner consistent with the law and all fiduciary duties owed to their respective client(s).

Confidentiality AgreementYour receipt of this Memorandum constitutes your acknowledgement that (i) it is a confidential Memorandum solely for your limited use and benefit in determining whether you desire to express further interest in the acquisition of the Property, (ii) you will hold it in the strictest confidence, (iii) you will not disclose it or its contents to any third party without the prior written authorization of the owner of the Property (“Owner”) or CBRE, Inc., and (iv) you will not use any part of this Memorandum in any manner detrimental to the Owner or CBRE, Inc.

If after reviewing this Memorandum, you have no further interest in purchasing the Property, kindly return it to CBRE, Inc.

DisclaimerThis Memorandum contains select information pertaining to the Property and the Owner, and does not purport to be all-inclusive or contain all or part of the information which prospective investors may require to evaluate a purchase of the Property. The information contained in this Memorandum has been obtained from sources believed to be reliable, but has not been verified for accuracy, completeness, or fitness for any particular purpose. All information is presented “as is” without representation or warranty of any kind. Such information includes estimates based on forward-looking assumptions relating to the general economy, market conditions, competition and other factors which are subject to uncertainty and may not represent the current or future performance of the Property. All references to acreages, square footages, and other measurements are approximations. This Memorandum describes certain documents, including leases and other materials, in summary form. These summaries may not be complete nor accurate descriptions of the full agreements referenced. Additional information and an opportunity to inspect the Property may be made available to qualified prospective purchasers. You are advised to independently verify the accuracy and completeness of all summaries and information contained herein, to consult with independent legal and financial advisors, and carefully investigate the economics of this transaction and Property’s suitability for your needs. ANY RELIANCE ON THE CONTENT OF THIS MEMORANDUM IS SOLELY AT YOUR OWN RISK.

The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest or offers to purchase the Property, and/or to terminate discussions at any time with or without notice to you. All offers, counteroffers, and negotiations shall be non-binding and neither CBRE, Inc. nor the Owner shall have any legal commitment or obligation except as set forth in a fully executed, definitive purchase and sale agreement delivered by the Owner.

Copyright Notice © 2018 CBRE, Inc. All Rights Reserved.


NYC LARGE PRIME DEVELOPMENT

SITES FOR SALE

138-41Jamaica Avenue

Jamaica, NY

505 Utica Avenue

East Flatbush, NY

219-44Hillside Avenue

Queens Village, NY

Block/Lot 9620/33&40 4591/48 10680/6

Zoning R6A C8-2 R2

Commercial Overlay C2-4 C1-2

As of Right FAR 3.00 2.00 1.00

FAR With Inclusionary Housing

3.60

FAR With Community Facility

4.80 1.60

Lot Size 24,826 19,001 25,226

Street Frontage 458.94' 190' 297'

Frontage 3 Streets 1 Street 2 Streets

Current Use Wendy's Restaurant Wendy's Restaurant Wendy's Restaurant

Mass Transit Subway, LIRR. Bus Subway, Bus Bus, LIRR

Real Estate Taxes $73,373 $35,941 $78,246

New Market Tax Credit (NMTC) Qualified

Yes Yes No

Qualified Opportunity Zone No No No

RARE LARGE NYC SITES

The sites have excellent street exposure on heavily traveled streets (Jamaica Avenue, Queens Boulevard, Utica Avenue, and Hillside Avenue). Benefits of the properties also include excellent road access and mass transit access.

Medical uses should be considered as major hospitals are nearby demand drivers (Jamaica Hospital, Kingsbrook Jewish Medical Center, Kings County Hospital, NYC Health + Hospitals/McKinney, and Long Island Jewish Medical Center (Northwell)).

EXECUTIVE SUMMARY

1,427,081DAYTIME

POPULATION

986,085DAYTIME

POPULATION

2,358,983DAYTIME

POPULATION

Jamaica Avenue

Hillside Avenue

Utica Avenue

138-41JAMAICA AVENUE

JAMAICA, NY

219-44 HILLSIDE AVENUE

QUEENS VILLAGE, NY

505UTICA AVENUE

EAST FLATBUSH, NY

LOCAL MAP

505UTICA AVENUE

EAST FLATBUSH, NY


QUEENS VILLAGE, NY


JAMAICA, NY

REGIONAL MAP

Property Description138-41 JAMAICA AVENUE

Large development site at the intersection of two major roadways with frontage on three streets. The site has excellent exposure and is well located in Downtown Jamaica. The property has favorable zoning and is proximate to subways, buses, and the LIRR. Downtown Jamaica is a mix of local, regional, and national retailers, private and public offices, and residential uses. Additionally, the property is .25 miles from Jamaica Hospital Medical Center. Jamaica is going through a resurgence evidenced by the current construction boom!

138-41 Jamaica Avenue should be considered for residential, medical, commercial, and hotel development.

138-41 JAMAICA AVENUE JAMAICA, NYLOT SIZE 24,826 SQ.FT / 0.57 ACRES

Wendy's would like to remain on the site in the form of a tenant on the ground level or in the form of a condominium.

QU

EENS BLVD

139TH ST

JAMAICA AVE

HILLSIDE AVE

138TH ST

VA

N W

YCK

EXPWY

THE NEIGHBORHOOD

SUPREME COURT QUEENS COUNTY

Property Description505 UTICA AVENUE

Large development site with 190’ of frontage along busy Utica Avenue in the heart of Brooklyn. Favorably, the site’s zoning provides for a 4.8 FAR for community facilities. Since the site is proximate to Kingsbrook Jewish Medical Center, Kings County Hospital, and NYC Health + Hospitals/McKinney, a community facility use should be considered. The property benefits from nearby subways and bus routes. In recent years, significant development and property

transfer activity has been observed in the neighborhood.

505 Utica Avenue should be considered for residential, medical,

commercial, and hotel development.

505 UTICA AVENUEEAST FLATBUSH, NYLOT SIZE 19,001 SQ.FT /.44 ACRES

UTIC

A A

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E 51 ST

THE NEIGHBORHOOD


Property Description219-44 HILLSIDE AVENUE

THE NEIGHBORHOOD

BRA

DD

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K AVE

HILLSIDE AVE

89TH AVE

SPRINGFIELD BLVD

219-44 HILLSIDE AVENUE QUEENS VILLAGE, NYLOT SIZE 25,226 SQ.FT / .58 ACRES

Corner development site at a major intersection with excellent exposure along busy Hillside Avenue in Queens Village. The site contains 25,226 square feet of land with frontage on both Hillside Avenue and Braddock Avenue. The site permits both residential and commercial uses with a bonus for a community facility. The property is 2.7 miles from Long Island Jewish Medical Center (Northwell) and serviced by both bus and LIRR transportation.

219-44 Hillside Avenue should be considered for residential, medical, and commercial development.


THE NEIGHBORHOOD

41.0MEDIAN AGE

35.0MEDIAN AGE

38.1MEDIAN AGE

Jamaica Avenue

Hillside Avenue

Utica Avenue

POPULATION WITHIN A 5 MILE RADIUS

2018 Population - Current Year Estimate 1,180,012

2023 Population - Five Year Projection 1,206,397

2010-2018 Annual Population Growth Rate 0.56%


219-44 HILLSIDE AVENUE QUEENS VILLAGE, NY

2018 DEMOGRAPHICS WITHIN A 5 MILE RADIUS

AVERAGE HH INCOME $99,373

DAYTIME POPULATION 986,085






505 UTICA AVENUE EAST FLATBUSH, NY



DAYTIME POPULATION 2,358,983






138-41 JAMAICA AVENUE, JAMAICA, NY



DAYTIME POPULATION 1,427,081

DEMOGRAPHIC OVERVIEW

WILLIAMSBURG BRIDGE

QUEENS MIDTOWN TUNNEL

LONG ISLAND EXPRESSWAY


BROO

KLYN

QUE

ENS E

XPRE

SSW

AY

JOHN F. KENNEDY INTERNATIONAL AIRPORT

LONG ISLAND RAILROAD

VAN WYCK EXPRESSW

AY

Sutphin Blvd-Archer Ave7.4M Annual Ridership

Utica Avenue5.2M Annual Ridership

Sutter Ave-Rutland Rd1M Annual Ridership

RAILROAD/SUBWAY/BUS LINES

505UTICA AVENUE

EAST FLATBUSH, NY

TRANSPORTATION

138-41 JAMAICA AVE 505 UTICA AVE 219-44 HILLSIDE AVE

Long Island MacArthur Airport

1 hour 12 minutes: 46 miles 1 hour 39 minutes; miles 1 hour 4 minutes: 40.4 miles

John F. Kennedy Airport 10 minutes: 3.6 miles 33 minutes: 9.2 miles 21 minutes: 8.7 miles

LaGuardia Airport 16 minutes: 7.1 miles 36 minutes: 12.9 miles 28 minutes: 18.1 miles

Newark Liberty International Airport

1 hour, 11 minutes: 36.5 miles 1 hour, 2 minutes: 18.2 miles 1 hour, 18 minutes: 28.4 miles

AIRPORTS

TRANSPORTATION PASSAGE

138-41 JAMAICA AVENUEJamaica LIRR Station (Babylon, City Zone, Far Rockaway, Hempstead, Long Beach, Montauk, Oyster Bay, Port Jefferson, Ronkonkoma, West Hempstead)

Sutphin Boulevard-Archer Ave-JFK Station - Subway (E, J, Z) with 7.4M Annual RidersBus lines at building: Q24, Q54, Q56, Q60 505 UTICA AVENUEUtica Ave Subway (2, 3, 4, 5) with 5.2M Annual RidersSutter Ave-Rutland Road Subway (2, 3, 4, 5) with 1M Annual RidersBus lines at building: B46 219-44 HILLSIDE AVENUEQueens Village LIRR Station (Hempstead, Oyster Bay)Bus lines: Q1, Q27, Q288

138-41 JAMAICA AVE 505 UTICA AVE 219-44 HILLSIDE AVE

Manhattan 39 minutes: 15.1miles 57 minutes: 13.9 miles 44 minutes: 17.9 miles

DRIVE TIMES

WILLIAMSBURG BRIDGE

QUEENS MIDTOWN TUNNEL



BROO

KLYN

QUE

ENS E

XPRE

SSW

AY

JOHN F. KENNEDY INTERNATIONAL AIRPORT

LONG ISLAND RAILROAD

VAN WYCK EXPRESSW

AY

Sutphin Blvd-Archer Ave7.4M Annual Ridership

Utica Avenue5.2M Annual Ridership

Sutter Ave-Rutland Rd1M Annual Ridership


JAMAICA, NY


QUEENS VILLAGE, NY


NYC LARGE PRIME DEVELOPMENT SITES FOR SALE

FOR MORE INFORMATIONCONTACT:

MARK ZUSSMAN

+1 646 522 1230

[email protected]

Documents

NYC LARGE PRIME DEVELOPMENT SITES FOR SALE€¦ · 138-41 JAMAICA AVENUE - JAMAICA, NY 505 UTICA AVENUE - EAST FLATBUSH, NY 219-44 HILLSIDE AVENUE - QUEENS VILLAGE, NY ... construction