177-14 Wexford Terrace, Queens
Mixed Use | 35,391 SqFt
Marketing description
RIPCO REAL ESTATE has been retained on an exclusive basis to arrange for the sale of 177-14 WEXFORD TERRACE — in Jamaica Estates, NY (the “Property”).
The Property is a mixed-use building built in 2020, featuring 38 apartments in a well-balanced 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, with potential for expansion into the legal lower level by the current or future tenant. The building benefits from a 35-Year Affordable New York tax abatement that began in 2020/2021 and expires in 2054/2055. Under the program, 12 apartments were leased through the HPD lottery process. Additionally, 10 apartments (~25% of the units) are free market, having been leased above the rent stabilization threshold at initial occupancy.
The 179th Street F subway station is a 3-minute walk, providing direct access to Midtown Manhattan in under 45 minutes. The site also benefits from proximity to JFK Airport and Downtown Jamaica, strengthening connectivity. This transit-oriented, supply-constrained pocket of Queens continues to see strong tenant demand and consistent rent growth.
For additional information or to schedule a property inspection, please get in touch with the exclusive brokers.
Investment highlights
- 35-Year Tax Abatement (through 2055) - Substantial long-term property tax savings under the Affordable New York program.
- Strong Unit Mix with Free Market Upside - 39-units with a balanced mix of one-to-four bedroom layouts. ~25% of the units are free market providing long-term growth potential.
- Prime Jamaica Estates Location - Directly across from Mary Louis Academy and near St. John's University, offering built-in demand drivers. Quiet, residential block with strong neighborhood fundamentals.
- Exceptional Transit Access - The 179th Street subway entrance is around the corner on Hillside Avenue / 178th Street with direct access to Midtown Manhattan in under 35 minutes.
- Modern Construction with Stable Tenancy - Newly built in 2020 with quality construction and modern layouts. Community facility leased to Active Care, Inc (Adult Day Care) with potential expansion into the lower level.
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Zoning
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
