183-170 90th Ave, Queens, NY 11423

Confidential Offering Memorandum 90 Avenue, Jamaica, NY 11432 Vacant Land for Development Confidentiality: This Offering Memorandum is provided to qualified investors for informational purposes only. It is not a solicitation to buy or sell securities. The information contained herein is confidential and may not be reproduced or distributed without the express written consent of the Seller. 2. Executive Summary: This Offering Memorandum presents the opportunity to acquire a vacant lot located at 170 & 90 Avenue, Jamaica, NY 11432. The property is zoned R6A, allowing for the development of a mid-rise apartment building. The lot offers significant development potential in a desirable area of Jamaica, Queens. The asking price is $550,000. 3. Property Description: ● Lot Size: 25 ft x 55 ft (1,375 sq ft) ● Zoning: R6A (Residential) ● Zoning Highlights: ○ FAR: 3.0 ○ Lot Coverage: Up to 60% ○ Permitted Use: Mid-rise apartment buildings ● Estimated Buildable Area: Approximately 4,125 sq ft (Buyer to verify) ● Current Status: Vacant Land 4. Development Potential: The R6A zoning designation allows for the construction of a 4-5 story apartment building. The estimated buildable area of 4,125 sq ft (buyer to confirm) provides the opportunity to create a valuable residential property. Prospective buyers are encouraged to conduct their own due diligence concerning zoning regulations and potential development scenarios. 5. Financial Information: ● Asking Price: $550,000 + Commission ● Estimated Construction Costs: Approximately $1,031,250 (based on $250/sq ft, excluding soft costs - Buyer to verify) ● Estimated Soft Costs: 20-30% of construction costs (Buyer to verify) ● Total Estimated Project Cost: $1,581,250 - $1,687,500 (Buyer to verify) Note: The financial information provided is for illustrative purposes only and is based on preliminary estimates. Prospective buyers should conduct their thorough financial analysis. 6. Investment Highlights: ● Favorable Zoning: R6A zoning allows for a significant development opportunity. ● Desirable Location: The property is situated in the vibrant neighborhood of Jamaica, Queens, offering convenient access to public transportation (subway and buses), shopping, dining, and recreational facilities. [Add specific details about nearby amenities, schools, parks, etc. to strengthen this section.] ● Strong Market Potential: Jamaica is witnessing ongoing development and increasing demand for rental housing. [Include data on average rental rates in the area, vacancy rates, and recent comparable sales to support this statement.] 7. Due Diligence: Prospective buyers are urged to conduct their own due diligence, including: ● Zoning Verification: Confirming all zoning regulations and requirements with the local authorities (NYC Department of Buildings). ● Feasibility Study: Conducting a thorough feasibility study to assess the project's viability. ● Environmental Assessment: Obtaining an environmental assessment of the property. ● Financial Analysis: Developing a detailed financial pro forma for the project. Zuz Realty 917-873-8411