Mixed-Use Multifamily with Day
177-14 Wexford Terrace Jamaica Estates, NY 11432
177-14 Wexford Terrace, Jamaica Estates, NY, 11432
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For Sale
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Mixed-use building built in 2020 with 38 apartments and a ground-floor Social Adult Day Care space.
Property Size35,391 SF
Price / SF$450.68
Days on Market37
Property Features for 177-14 Wexford Terrace
General Information
- Standard status
- Active
- Size
- 35,391 SF
- Property subtype
- Mixed Use, Multifamily
Building Details
- Year Built
- 2020
Listing agency
RIPCO Real Estate New York
(718) 663-2644
Listed by
Kevin Schmitz · License #NY 10401284640
Source
Crexi
Added: Jun 16 Updated: Jul 21 at 9:48PM Checked: Jul 21 at 9:48PM
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 RIPCO Real Estate New York
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.
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
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 | $1.64M | $46.20 |
| − Vacancy | −$62.1k | −$1.76 |
| EGI | $1.57M | $44.44 |
| − OpEx | −$707.8k | −$20.00 |
| NOI | $865.1k | $24.44 |
35,391 SF · lease $46.20/SF/yr · vacancy 3.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$12.36M
$10.81M – $14.42M
NOI $865,112 @ 7.0% cap · market cap 5.42%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$26.09M
$22.83M – $30.44M
NOI $1,826,345 @ 7.0% cap · market cap 11.45%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Edgar O Mandeville ...
Physician
FAQs
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 is the asking price?
The asking price for this property is $15,950,000.
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
