Building Details

Year Built 2020

Listing Agency: RIPCO Real Estate

Listed By: Stephen R. Preuss Sr. Show Phone

Source: Ripcony

Added: Jun 17 Changed: Sep 6 Last Checked: Sep 7 at 4:28AM

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Investment Insights

Based on property information with market context.

This mixed-use building was built in 2020 and contains 38 apartments in a unit mix of 23 one-bedrooms, 6 two-bedrooms, 2 three-bedrooms, and 8 four-bedroom units. The ground floor is leased to Active Care, Inc., a Social Adult Day Care. The legal lower level may be available for expansion by the current or future tenant.

The property benefits from a 35-year Affordable New York tax abatement that began in 2020/2021 and is set to expire in 2054/2055. Under the program, 12 apartments were leased through the HPD lottery process, and an additional 10 apartments are free market, having been leased above the rent stabilization threshold at initial occupancy.

Transit access is a key feature, with the 179th Street F subway station about a 3-minute walk away, providing direct service to Midtown Manhattan in under 45 minutes. The site is also positioned near JFK Airport and Downtown Jamaica.

Key Highlights

• Mixed‑use building built in 2020 with 38 apartments plus a ground‑floor Social Adult Day Care space (leased to Active Care, Inc.)
• Apartment mix: 23 one‑bedrooms, 6 two‑bedrooms, 2 three‑bedrooms, and 8 four‑bedroom units
• 35‑year NY tax abatement started in 2020/2021 and runs through 2054/2055

Property Analytics

Property Profile

Current Use

Edgar O Mandeville ... Physician

Suggested Use

Top Pick Law Firm Gym & Fitness Center Catering Service Home Appliance Store Garden Center (Bike/Boat/Book/etc) Store

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

38

Residential units

Location Intelligence

Trade Area within ½ mile

3,077

Businesses Nearby

Explore this area Business Placement

Demographics for 11432, NY

65,743

Population

21,618

Households

3

Avg Household Size

39

Median Age

36%

College-Educated

80%

High-School Grad

2.0 sq mi

ZIP Area

32,872

Density / Sq Mi

$75,395

Median Household Income

$37,385

Median Earnings

$1,841

Median Rent

$826,100

Median Home Value

Market

Vacancy Rate% for Multifamily in Northeast region

4% 2022

4.6% 2023

5.3% 2024

5.6% 2025

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Frequently Asked Questions

What type of property is this?

Apartment building - Mixed-use building built in 2020 with 38 apartments and a ground-floor Social Adult Day Care space.

Where is this apartment building located?

The property is located at 177-14 Wexford Terrace Jamaica Estates, NY.

What are key features of this property?

This property features: Mixed‑use building built in 2020 with 38 apartments plus a ground‑floor Social Adult Day Care space (leased to Active Care, Inc.); Apartment mix: 23 one‑bedrooms, 6 two‑bedrooms, 2 three‑bedrooms, and 8 four‑bedroom units; 35‑year NY tax abatement started in 2020/2021 and runs through 2054/2055