Matthews™ Lists 660K+ Buildable SF Development Site in New York

NEW YORK— Matthews™, a commercial real estate investment services and technology firm, recently listed Jamaica Development Assemblage located at 149-01 95th Avenue in Queens, New York. The asset is exclusively listed by Matthews™ Executive Vice President DJ Johnston, Vice President Robert Lawrence, and Associate Eli Roerden.

 

Positioned in the heart of Jamaica, Queens, the assemblage will be delivered 100% vacant and offers extensive frontage along both 95th Avenue and 94th Avenue. The site carries the highest density designation under the recently approved Jamaica Neighborhood Plan, a rezoning initiative spanning approximately 230 blocks, and stands as one of the largest redevelopment opportunities to emerge from the rezoning. The initiative is expected to create more than 12,000 new homes, including 4,000 permanently affordable units, along with 2 million square feet of commercial and community facility space and approximately 7,000 new jobs.

 

“Jamaica Development Assemblage represents a rare opportunity to acquire an institutional-scale development site within a transit-rich submarket positioned for significant residential growth,” Johnston said. “We are tracking comparable sales between $75 and $85 per buildable square foot, equating to approximately $50 million to $56 million. Ownership would also consider a ground lease, with base rent guidance of plus or minus $5 per buildable square foot.”

 

Jamaica continues to solidify its position as a major commercial and transportation hub within Queens, supported by strong public infrastructure and ongoing development. Situated in the neighborhood’s downtown core, the property offers immediate access to one of the most connected transit networks in New York City, including the E, J, Z, and F subway lines, the Long Island Rail Road, and the JFK AirTrain.

 

This connectivity continues to attract significant public and private investment, reinforcing Jamaica’s role as a key employment center and a growing destination for residential and mixed-use development.

 

For more information, please contact DJ Johnston, Eli Roerden, Robert Lawrence or visit www.matthews.com.

 

About Matthews™

Matthews™, a commercial real estate investment services and technology firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Based out of Nashville, TN, and strategically positioned with over 1,000 agents and employees in 30 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.