WWW.QNS.COM RIDGEWOOD TIMES NOVEMBER 26, 2020 27
REAL ESTATE
New residential development to bring aff ordable housing to Jamaica
BY CARLOTTA MOHAMED
CMOHAMED@SCHNEPSMEDIA.COM
@QNS
A new residential development set to be built in Jamaica will create
new affordable housing and bring significant investment into the
community at a time when COVID-19 has continued to present severe
economic challenges.
Zara Realty’s new state-of-the-art, nine-story residential building at 153-
10 88th Ave. will have 223 units, from studios to two-bedrooms apartments
(each with new appliances), and 30 percent of its units will be set aside as
affordable housing.
The 218,000-square-foot building will have solar arrays on the roof to
produce green energy. There will be space available for a community facility
on the ground floor. All tenants will be provided with access to a valet
parking garage, fitness center, recreational space, roof terrace, storage
units and more.
Tony Subraj, co-managing partner for Zara, said new investment on this
scale has been infrequent since the start of the pandemic, but they think
it is needed now more than ever.
“Whether it is buying older buildings and reinvesting in the critical infrastructure
to create quality, lasting housing, or starting from the ground
up to deliver new affordable housing for New Yorkers, Zara Realty has been
creating homes for Queens families for nearly 40 years,” Subraj said.
Amir Sobhraj, co-managing partner for Zara, said high-quality, affordable
housing will be key to the economic revival of the city and of
southeastern Queens in particular.
“Even as COVID-19 has devastated so many families in our community, and
caused an enormous crater in our local economy, we believe in Queens. We
believe in the future of this neighborhood, where we grew up and where
we work, and we are investing here for the long term,” Sobhraj said.
Construction on the new residential development is expected to be
completed in 2022.
Ridgewood Times Sales Guide
RIDGEWOOD GLENDALE MASPETH MIDDLE VILLAGE
Fresh Pond Road
Listings selected at random. Courtesy MLS
Under $600,000
62-48 60th Place, Unit 1B
$399,000
Condo
1 bedroom, 1 bathroom
Michelle O Kane, O Kane Realty
$600,000-$1,000,000
1905 Putnam Ave., Unit 2R
$750,000
Condo
2 bedrooms, 2 bathrooms
Bartosz Olszewski, Sold By Bart R
E Partners Inc
Over $1,000,000
70-09 Fresh Pond Road
$1,369,000
Multi Family
4 bedrooms, 6 bathrooms
Talaat Elkaray, Keller Williams
Landmark II
78th Street 65th Place 80th Street
Under $600,000
80-80 Cypress Ave.
$550,000
Bungalow
3 bedrooms, 1 bathroom
Rosa Collado, Keller Williams
Landmark II
$600,000-$1,000,000
78-08 78th St.
$718,000
Single Family
3 bedrooms, 3 bathrooms
Louis Pastorini, Coldwell Banker
Phillips
Over $1,000,000
73-20 70th St.
$1,279,000
Multi-Family
8 bedrooms, 4 bathrooms
Jon Mohan, Kaye Realty & Development
Inc
Under $600,000
64-42 58th Road
$580,000
Ranch
2 bedrooms, 1 bathroom
Patricia America, Coldwell Banker
Realty
$600,000-$1,000,000
54-17 65th Place
$799,000
Colonial
3 bedrooms, 1 bathroom
Marie Grant, Signature Premier
Properties
Over $1,000,000
66-22 58th Ave.
$1,150,000
Two-Story
5 bedrooms, 3 full and 1 half
bathrooms
David Kong, Keller Williams Rty
Gold Coast
Under $600,000
66-45 69 Street, Unit 15
$415,000
Condo
1 bedroom, 1 bathroom
Charles Chul Chang, Exit Realty
Team
$600,000-$1,000,000
57-59 80th St.
$698,000
Hi Ranch
2 bedrooms, 1 full and 1 half
bathrooms
Compass Greater NY LLC
Over $1,000,000
74-07 Penelope Ave.
$1,789,000
Two-Story
4 bedrooms, 3 full and 2 half
bathrooms
Joseph Crifasi, Crifasi Real Estate
Inc
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