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MLS ID KEY1005582Last updated Sep 18, 2026

Multi Family

148-36 89th Avenue

Active · Queens, NY 11435

Asking price$12,000,000Request a Showing
Year built
2020
Est. monthly taxes
$20,771.42
Property gallery0 / 35
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About this home

Ideal 1031 replacement property with predictable cash flow. Turnkey asset structured for seamless tax deferred exchanges. Free Market: Prime Transit-Oriented Bulk Condo Offering: Downtown Jamaica, Queens | 22 Residential Units & 8 Parking Spaces An exceptional investment opportunity in one of New York City’s most dynamic and accessible transit hubs. This bulk condominium package delivers immediate scale, majority asset control, and multiple exit strategies. The Offering: Discover a modern, eight-story elevator condominium building designed for urban convenience. This package features the vast majority of the building's inventory, presenting a rare turnkey acquisition for institutional investors, 1031-exchange buyers, or preservation funds. • The Portfolio: 22 Premium Residential Units + Two Media/Recreational Rooms + 8 On-Site Parking Spaces. • The Building: 8-Story Elevator Asset with a Full Cellar and 22 total apartment units. • The Control: Immediate majority control of the condominium board. Unmatched Connectivity. Situated in the absolute heart of Downtown Jamaica, this property boasts a near-perfect transit profile. Residents enjoy effortless commutes across New York City and Long Island. *2 Blocks to F Train (Sutphin Blvd/Hillside) *4 Blocks to F Train (Parsons Blvd/Hillside) *Short Walk to Jamaica Center Hub (E, J, Z Trains & LIRR) • Subway Access: Immediate access to the F, E, J, and Z lines. • Commuter Rail: Minutes from Jamaica Station (LIRR) for rapid transit to Manhattan, Brooklyn, and JFK Airport. • Surface Transit: Steps from major bus lines, including the Q20A, Q20B, Q40, and Q43 on Sutphin Boulevard. Investment Highlights: • High-Yield Rental Strategy: Capitalize on the historic rental demand in Queens with a highdensity, low-vacancy asset. • Fractionalized Exit Strategy: Hold for immediate cash flow and retail individual condo units over time to maximize total ROI. • Rapidly Growing Neighborhood: Benefit from the continuous public and private investments shaping Downtown Jamaica's commercial and residential landscape. *Excellent opportunity.

Listing snapshot

Days on site
59 days
Listed on MLS
May 29, 2026
Annual property tax (MLS)
$249,257
Tax year
2025
Listing brokerage
Compass Greater NY LLC
MLS ID
KEY1005582
Last updated
Sep 18, 2026

General features

Property type
Multi Family
Year built
2020
Total parking
8
Parking
Assigned, Garage Door Opener, Waitlist
Water source
Public
Sewer
Public Sewer
Utilities
Electricity Available, Natural Gas Available, Sewer Connected, Trash Collection Public, Water Connected

Interior features

Basement
Common, Finished
Heating
Electric
Cooling
Central Air, Electric
Flooring
Carpet, Ceramic Tile, Hardwood

Exterior features

Architectural style
High Rise
Construction materials
Brick, Stone, Stucco

Schools (MLS)

Elementary school district
Queens 28
Middle school district
Queens 28
High school district
Queens 28

School information is provided by the MLS. Confirm attendance eligibility with the school district.

Recent activity

  1. Listing updated from MLS
  2. First seen on this site
  3. MLS status changed

Location

Queens, NY 11435Show interactive map
148-36 89th Avenue

Queens, NY 11435

Google Maps directions

Listing data is supplied by the MLS and may change without notice.