
Compass
Listed by Compass
$11,000,000
Parthenon One
Details
APN 102131014
Property Type Multifamily
Sub Type Apartment Building, Duplex/Triplex/Quadruplex
Net Rentable (SqFt) 36,800
Units 17
Cap Rate 4.00%
NOI $400,000
Tenancy Multi
Rent Bumps No
Pro-Forma Cap Rate 5.59%
Pro-Forma NOI $615,000
Class B
Year Built 2011
Year Renovated 2020
Buildings 1
Stories 6
Acreage 0.230
Zoning C2-4/R6A/DJ- Multifamily Residence
Parking Spaces spaces
Multifamily | 4.00% CAP | 17 Units
Marketing description
Prime Transit-Oriented Bulk Condo Offering:
Downtown Jamaica, Queens | 16 Residential Units, Commercial Space & 11 Parking Spaces
An exceptional investment opportunity in one of New York City’s most dynamic and accessible transit hubs. This bulk condominium package delivers immediate scale, majority asset control, and multiple exit strategies.
The Offering:
Discover a newly renovated, 6-story elevator condominium building designed for urban convenience. This package features the vast majority of the building's inventory, presenting a rare turnkey acquisition for institutional investors, 1031-exchange buyers, or preservation funds.
The Portfolio: 16 Premium Residential Units + 11 On-Site Parking Spaces + Commercial Space.
The Building: 6-Story Elevator Asset with a Finished Basement and total 16 units.
The Control: Immediate majority control of the condominium board.
Unmatched Connectivity
Situated in the absolute heart of Downtown Jamaica, this property boasts a near-perfect transit profile. Residents enjoy effortless commutes across New York City and Long Island.
Transit access:
179 St Station (F train) — about 10 min
169 St Station (F train) — about 9 min
Jamaica Center (E, J, and Z trains)- 1.1 miles
Jamaica LIRR Station / AirTrain JFK/ Sutphin Blvd-E/J/Z subway
The property is also near multiple bus stops along Jamaica Avenue/172 St & 173 St
Investment Highlights:
High-Yield Rental Strategy: Capitalize on the historic rental demand in Queens with a high-density, low-vacancy asset.
Fractionalized Exit Strategy: Hold for immediate cash flow and retail individual condo units over time to maximize total ROI.
Rapidly Growing Neighborhood: Benefit from the continuous public and private investments shaping Downtown Jamaica's commercial and residential landscape.
Investment highlights
- All units are Free Market- 16 units with 11 parking spaces and spacious commercial space on the first floor and finished basement with bathroom.
- Opportunity to purchase three condo bulk sale/buildings for $28,000,000. Please contact LA for details.
Listing Contacts

Compass
Listed by Compass
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$400,000.00
$33,333.33/mo
Valuation Metrics
0
DSCR
3.64%
Cap Rate
3.64%
ROI
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Brokerage
Brokerage Phone
Title
Brokerage Address
Is there information that looks off?







































