Posted on: August 16, 2025 04:32 PM

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Little little late to bargain for Jamaica lots

Long Island City, Astoria and Flushing Corona done. Let's work on Jamaica, says the developers.

Next is Jackson Heights.

Jamaica is now the prime spot all developers are rushing toward and now it's a demand no longer catered to bargains.

Either cough up a minimum of $50 million or get lost.

The latest lots to hit the market are Archer Square in the vicinity of 162nd Street and 92nd Avenue. It's 1.7 acres at $49 million. It's listed exclusively with Ripco Realty.

Next up the lots, 169-01 and 168-19 Baisley Blvd now going for $50 million. So what's the catch? This is the statement from the listed agent, Capital Property, Ownership has a proposal for a 7-story 87,462 square foot commercial building with community facility.

Coming to Jackson Heights, one entire stretch from 84-01 to 29 Roosevelt Avenue is on the market and it's only $28 million. That's 9 buildings which can be redeveloped into retail plus residential. It is listed with Apple Realty. Soon more buildings on Roosevelt Avenue will be hitting the market.

Queens is becoming very expensive with new rent rates that have tenants pay electric, heat, hot water and a percentage increase annually for the new demographic.