FOR BREAKING NEWS VISIT www.couriersun.com OCTOBER 22, 2015 • THE COURIER SUN 11 Two new properties to hit the market in southeastern Queens BY KELLY MARIE MANCUSO editorial@queenscourier.com @KellyMMancuso Ariel Property Advisors, a New York City investment property sales fi rm specializing in the multifamily market and development sites, has been exclusively retained to sell two large properties in southeastern Queens. The fi rst is a development site located at 177-18 Wexford Terrace in Jamaica Estates. The second is a commercial property located in Jamaica at 116-29 Sutphin Blvd. The properties are being marketed independently of one another. The owners of each property have tapped Ariel Property Advisors Vice President Daniel Wechsler and agent Michael A. Tortorici to bring properties to market. “Various public initiatives on the state, city and local level, along with private investment, are undoubtedly helping transform Jamaica into a more attractive and affordable destination to live, work and visit,” Wechsler explained. The Wexford Terrace site, which measures 30 feet by 120 feet, has an asking price of $1,780,000 and is located one block from Hillside Avenue, a major commercial corridor lined with grocery stores, drug stores, restaurants and many other neighborhood amenities. The close proximity to Hillside Ave also provides prospective residents with convenient 177-18 Wexford Terrace, a development site in Jamaica Estates and one of two new properties being brought to the Queens real estate market by Ariel Property Advisors. F train access to Manhattan, as well as numerous bus lines. The property offers 12,420 square Photo courtesy of Ariel Property Advisors feet as of right, 14,400 square feet and a FAR of 4.00 with a community facility bonus, and 16,560 square feet with a 4.60 FAR with an inclusionary housing bonus. It is also located between two new developments. The fi rst, located at 177-16 Wexford Terrace, will be an 8-story 20,000 square foot mixed-use building. The second, located at 177- 30 Wexford Terrace, recently received approval for a 62,000-square-foot mixed-use facility. In addition to the Wexford Terrace site, Ariel Property Advisors is also offering a 3,430-square-foot $1,250,000 corner commercial building located at 116-29 Sutphin Blvd. in Jamaica. It consists of three retail units, each with street-level and basement space. One unit is currently leased by a church that has occupied the building for over a decade. Their current lease expires next year. The second unit is occupied by a laundromat with a lease expiring in 2023. The third unit is vacant. The site sits on a heavily traffi cked thoroughfare in southeastern Queens. Major retailers in the immediate vicinity include a brand-new Dollar Tree, as well as McDonald’s, Subway and Dunkin’ Donuts restaurants. “We think a development site in Jamaica Estates is interesting due to its rarity,” explained Ariel Properties Communications Manager Jeremy Beck. “Any commercial building in the ever-improving Jamaica area, and what its potential can be, is also a plus for the neighborhood.” Great rates like ours are always in season. 18-Month CD 1.15%APY* At Flushing Bank, we’re small enough to know you and large enough to provide you with the great rates you’re looking for. Hurry, an offer like this can’t last forever. For more information and to find out about our other great offers, visit your local Flushing Bank branch, call 800.581.2889 or visit www.FlushingBank.com. $5,000 minimum deposit * New money only. APY effective September 23, 2015. Annual percentage yield assumes principal and interest remain on deposit for a full year at current rate. Minimum deposit balance of $5,000 is required. Funds cannot be transferred from an existing Flushing Bank account. Premature withdrawals may be subject to bank and IRS penalties. Rates and offer are subject to change without notice. Flushing Bank is a registered trademark
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