Brand-New All-Brick Multifamily
87-85 144th Street Jamaica, NY 11435
87-85 144th Street, Jamaica, NY, 11435
$4,350,000
For Sale
$4,350,000
Two 2018-built, four-story all-brick buildings with 16 modern units and on-site laundry facilities.
Property Size11,020 SF
Price / SF$394.74
Days on Market25
Property Features for 87-85 144th Street
General Information
- Standard status
- Active
- Size
- 11,020 SF
- Property subtype
- Commercial
Building Details
- Year Built
- 2018
Listing agency
Dream Cottage Realty Inc
(516) 992-2888
Listed by
Fazle S. Khan ([email protected])
Source
Iaquintarealestate
Added: Jun 28 Updated: Jul 21 at 4:22AM Checked: Jul 22 at 4:49AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Dream Cottage Realty Inc
Investment Insights
Based on property information with market context.
These are two brand-new (2018) all-brick, four-story multifamily buildings offered together or separately. Each building is described as approximately 5,510 square feet and includes 8 residential units. The configuration includes two “under ground” laundry facilities and two ground-floor duplex apartment layouts with basements. The construction is noted as reinforced concrete with energy-efficient systems, and the units are described as having open layouts with abundant natural light.
The buildings are located in the heart of Jamaica, Queens, approximately 50 feet from Hillside and 144th Street, with the “F” train nearby. Additional major transit is described as reachable in about five minutes by driving, including LIRR, E/J/Z subway lines, and numerous bus lines. The Sutfin Blvd courthouse is described as a block and a half away, and JFK airport is described as about five minutes away.
The property is described as having commercial zoning. The public remarks also note that the buildings could potentially be used as a hotel or motel with approval.
The buildings are located in the heart of Jamaica, Queens, approximately 50 feet from Hillside and 144th Street, with the “F” train nearby. Additional major transit is described as reachable in about five minutes by driving, including LIRR, E/J/Z subway lines, and numerous bus lines. The Sutfin Blvd courthouse is described as a block and a half away, and JFK airport is described as about five minutes away.
The property is described as having commercial zoning. The public remarks also note that the buildings could potentially be used as a hotel or motel with approval.
Key Highlights
- Two 2018‑built, four‑story all‑brick buildings sold together or separately
- Approximately 11,020 sq ft total with 16 modern residential units (8 units per building)
- Reinforced concrete structure with energy‑efficient systems
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $509.1k | $46.20 |
| − Vacancy | −$19.3k | −$1.76 |
| EGI | $489.8k | $44.44 |
| − OpEx | −$220.4k | −$20.00 |
| NOI | $269.4k | $24.44 |
11,020 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$3.85M
$3.37M – $4.49M
NOI $269,378 @ 7.0% cap · market cap 6.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.12M
$7.11M – $9.48M
NOI $568,685 @ 7.0% cap · market cap 13.07%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Two 2018-built, four-story all-brick buildings with 16 modern units and on-site laundry facilities.
Where is this apartment building located?
The property is located at 87-85 144th Street Jamaica, NY.
What is the asking price?
The asking price for this property is $4,350,000.
What are key features of this property?
This property features: Two 2018‑built, four‑story all‑brick buildings sold together or separately; Approximately 11,020 sq ft total with 16 modern residential units (8 units per building); Reinforced concrete structure with energy‑efficient systems
