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$ 4,500,000
Est. payment /mo
New
9503 Cresskill PL Jamaica, NY 11435
5,248 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 1007521
Rental Info No
Year Built 1931
Annual Tax Amount $20,393
Lot Size 5,248 Sqft
Acres 0.1205
Property Sub-Type Multi Family
Source onekey2
Property Description
95-03 & 95-07 Cresskill Place 8 FREE-MARKET UNITS | TWO BUILDINGS | DEVELOPMENT UPSIDE | STRONG IN-PLACE CASH FLOW
A rare opportunity to acquire two adjacent four-unit multifamily buildings in a quiet residential enclave of Jamaica, Queens. Offered as a package, this well-maintained portfolio consists of eight free-market residential units with strong in-place income and significant future upside through expansion or redevelopment.
Downtown Jamaica is a vibrant hub in Queens, known for its bustling retail district, diverse shopping, and strong sense of community. York College anchors the area with its expansive campus and contributes to the neighborhood's strong residential demand. Residents enjoy convenient access to parks, museums, fitness centers, entertainment venues, the Long Island Rail Road, AirTrain JFK, and the E, J, and Z subway lines, providing seamless access to Manhattan and the greater New York City area. Downtown Jamaica continues to emerge as one of Queens' most dynamic growth corridors. The neighborhood offers a thriving retail district, diverse dining and shopping options, and excellent transportation connectivity.
Property Overview:
95-03 Cresskill Place
Four residential units
Unit sizes ranging from approximately 597 to 723 square feet
Mix of one- and two-bedroom layouts
Windowed kitchens, spacious living areas, and ample storage throughout
95-07 Cresskill Place
Four additional residential units
Unit sizes up to approximately 1,163 square feet
Select residences feature oversized living rooms, dedicated dining areas, and multiple exposures
One expansive unit spans nearly 40 feet across, offering townhouse-style proportions
The properties have been meticulously maintained by long-term ownership and are being delivered occupied. Current rent roll is available upon request.
Development Potential:
Zoning: R5A
Lot Size: 5,250 SF
Potential to add approximately two additional stories
Estimated buildable area of over 10,806 square feet (buyer to independently verify with architect and zoning professionals)
Investment Highlights
Eight free-market units
Strong existing cash flow
Long-term ownership and pride of maintenance
Future value-add and development potential
Attractive basis in a rapidly growing Queens submarket
Excellent opportunity for investors, developers, and long-term holders
With ongoing residential and mixed-use development transforming the neighborhood, Downtown Jamaica remains a highly attractive destination for investment and future growth. This is a rare opportunity to acquire two turnkey, free market assets with existing cash flow and clear upside in a rapidly growing pocket of Queens.
Shown by appointment only.
A rare opportunity to acquire two adjacent four-unit multifamily buildings in a quiet residential enclave of Jamaica, Queens. Offered as a package, this well-maintained portfolio consists of eight free-market residential units with strong in-place income and significant future upside through expansion or redevelopment.
Downtown Jamaica is a vibrant hub in Queens, known for its bustling retail district, diverse shopping, and strong sense of community. York College anchors the area with its expansive campus and contributes to the neighborhood's strong residential demand. Residents enjoy convenient access to parks, museums, fitness centers, entertainment venues, the Long Island Rail Road, AirTrain JFK, and the E, J, and Z subway lines, providing seamless access to Manhattan and the greater New York City area. Downtown Jamaica continues to emerge as one of Queens' most dynamic growth corridors. The neighborhood offers a thriving retail district, diverse dining and shopping options, and excellent transportation connectivity.
Property Overview:
95-03 Cresskill Place
Four residential units
Unit sizes ranging from approximately 597 to 723 square feet
Mix of one- and two-bedroom layouts
Windowed kitchens, spacious living areas, and ample storage throughout
95-07 Cresskill Place
Four additional residential units
Unit sizes up to approximately 1,163 square feet
Select residences feature oversized living rooms, dedicated dining areas, and multiple exposures
One expansive unit spans nearly 40 feet across, offering townhouse-style proportions
The properties have been meticulously maintained by long-term ownership and are being delivered occupied. Current rent roll is available upon request.
Development Potential:
Zoning: R5A
Lot Size: 5,250 SF
Potential to add approximately two additional stories
Estimated buildable area of over 10,806 square feet (buyer to independently verify with architect and zoning professionals)
Investment Highlights
Eight free-market units
Strong existing cash flow
Long-term ownership and pride of maintenance
Future value-add and development potential
Attractive basis in a rapidly growing Queens submarket
Excellent opportunity for investors, developers, and long-term holders
With ongoing residential and mixed-use development transforming the neighborhood, Downtown Jamaica remains a highly attractive destination for investment and future growth. This is a rare opportunity to acquire two turnkey, free market assets with existing cash flow and clear upside in a rapidly growing pocket of Queens.
Shown by appointment only.
Location
State NY
County Queens
Rooms
Basement See Remarks
Interior
Heating Natural Gas
Cooling Wall/Window Unit(s)
Flooring Hardwood
Fireplace No
Exterior
Parking Features Detached
Utilities Available See Remarks
Building
Story 2
Sewer Public Sewer
Water Public
Structure Type Brick
Schools
High Schools Contact Agent
School District Contact Agent
Others
Special Listing Condition None
Listed by Exit Realty DKC • Jarel Carroll