Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 2022
Building Area Gross
Number of units 186
Occupancy 70.0 %

Property description

Jones Lang LaSalle (“JLL”) has been exclusively retained to market for sale Dutch House (the “Property”) an 7-story mixed-use property located in Long Island City, the most desirable submarket in Queens. The Property’s 186 units are 70% market rate and 30% affordable at 130% of AMI including 44 studios, 126 one-bedrooms, and 16 two-bedrooms. The market rate portion of the building leased-up in 3 months averaging about 40 leases per month with the initial 25 leases averaging $64/SF and the last 25 leases achieving $71/SF indicating 11% rent growth over the course of 80 days. There is also 11,067 SF of retail and 10,344 SF of manufacturing space, which is 81% leased and leased on-site parking with a total of 131 spaces. The Property benefits from a 421-A 35-year tax abatement known as Affordable New York, offering long term tax savings.

Investment highlights

  • Upside in Rent
  • 35-Year Tax Abatement
  • Quick Commute
  • Top Notch Product and Amenities
Last Updated Date: 12 Aug 2022

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Last Updated Date: 12 Aug 2022

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