FOR BREAKING NEWS VISIT www.qns.com NOVEMBER 24, 2016 • THE QUEENS COURIER 11 Prime property in downtown Jamaica leased out for development Photo: Google Maps BY LIAM BAKER [email protected] @QNS Development in Jamaica continues to boom, as a massive piece of property located in the heart of downtown Jamaica has just been secured under a long-term lease. The 35,000-square-foot site is located at 147-07 94th Ave., next to the Jamaica LIRR station. The property can be developed into a commercial, mixed-use or residential building. CPEX Real Estate’s Development and Conversion Team, acting on behalf of the landlord completed a deal with the tenant — a partnership between Phoenix Realty Group (PRG) and Artemis Realty Capital — for a long-term ground lease. This is the largest development site in Jamaica to change guard since 2014 and marks PRG and Artimus’ second acquisition this year, having secured the site across the street for $17.1 million. Between these two properties and BRP Companies’ project on Archer Avenue, there are set to be 1,400 new apartments within a block of Jamaica station. “Downtown Jamaica offers all of the key attributes of a Central Business District, highlighted by its access to public transportation. It is a busy civic center that serves as home to CUNY York College, the Queens Supreme and Family Courts and bustling retail corridor Jamaica Avenue. We expect to see continued growth in Jamaica’s residential, offi ce, retail, hotel and cultural sectors. Jamaica has a lot of the same attributes as Downtown Brooklyn where we have seen incredible results in economic growth as a result of private and public investment in the neighborhood. This is only the tip of the iceberg for Jamaica” said CPEX Managing Partner Brian T. Leary. Celebrate With Us! Complete Checking Plus 1.00% 0.51% APY1 For the first 90 days On balances of $5,000 or more Join the Grand Opening celebration of our new Flushing Bank location at 61-14 Springfield Boulevard. As part of the celebration, you will earn a special interest rate of 1.00%1 for the first 90 days when you open a new Complete Checking Plus account at any of our branches.1 Plus when you open a new Flushing Bank Complete Checking Plus account you can get up to $200.2 Hurry, this is a limited time offer. Call or stop by a branch today! For more information visit your local Flushing Bank branch, go to www.FlushingBank.com, or call 800.581.2889. Small enough to know you. Large enough to help you. 1. New Complete Checking Plus account with new money only. Existing checking account customers are not eligible. An existing checking customer is defined as anyone who currently has or has had a Flushing Bank checking account within the last 24 months. This offer is limited to one Complete Checking Plus account per household. The APY is effective October 17, 2016. The APY for Complete Checking Plus is 0.15% for daily account balances between $0 to $4,999. The blended annual percentage yield (APY) for Complete Checking Plus is 0.51% for daily account balances between $5,000 to $49,999 and 0.59% for daily account balances of $50,000 or greater. The guaranteed rate of 1.00% will remain in effect for 90 days after account opening. At the end of this 90 day period the annual percentage yield will revert to 0.35% for daily account balances between $5,000 to $49,999 and 0.45% for daily account balances of $50,000 or greater. Rates may change at any time without notice. You must maintain a daily balance of $5,000 for the statement cycle to receive the disclosed yield. If your daily account balance is less than $5,000 the interest rate paid on the entire balance in your account will be 0.15% APY. You must deposit a minimum of $100 to open the Complete Checking Plus account. A minimum balance of $5,000 is required to avoid a monthly maintenance fee. Fees may reduce the earnings on the account. The rate and offer are subject to change and early termination without prior notice at any time. 2. New Complete Checking or Complete Checking Plus account with new money only. Existing checking account customers are not eligible. An existing checking customer is defined as anyone who currently has or has had a Flushing Bank checking account within the last 24 months. This offer is limited to one Complete Checking or Complete Checking Plus account per household. Minimum deposit required to open a new Complete Checking account is $25 and a new Complete Checking Plus account is $100. No minimum balance required to be eligible for the Bonus. Direct Deposit – You will receive $100 for signing up for and receiving a recurring direct deposit of $250 or more. Tax refund checks do not qualify as direct deposit. Direct Deposits must be completed prior to 90 days after the account is opened. Debit Card Purchases – You will receive $50 for the completion of 5 debit card purchases. Each debit card purchase must be $25 or more. Online Banking Bill-payments – You will receive $50 for completing 5 online banking bill-payments via Flushing Bank’s Online Banking portal. Each online bill-pay must be $25 or more. Debit Card Purchases and Online Bill-payments must be completed prior to 60 days after the account is opened. THE MAXIMUM AMOUNT ANY CUSTOMER CAN RECEIVE IS $200. The compensation will be credited to the checking account on or about the end of the month following the completion of the above qualifying transactions within the required time after account opening. A 1099 will be is sued in the amount credited to your account. Other fees and restrictions may apply. All offers are subject to change and termination without prior notice at any time. 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