89-71 164th Street #COMMERCIAL, Queens, NY 11432
Local realty services provided by:CENTURY 21 Awaye Realty
89-71 164th Street #COMMERCIAL,Queens, NY 11432
$8,950,000
- - Beds
- - Baths
- - sq. ft.
- Multi-family
- Active
Listed by: varun sharma, matthew holt, mohan lal, gustavo ferreira antunes
Office: corcoran group
MLS#:RLS20069839
Source:NY_REBNY
Price summary
- Price:$8,950,000
About this home
<strong>8971 164th Street - Hotel / Commercial Development Opportunity<br> </strong><br> Prime hotel and commercial development opportunity at <strong>8971 164th Street</strong>, offered with <strong>approved hotel development plans</strong>. The property is positioned in a strong, high-demand corridor and is well-suited for a <strong>boutique or flagged hotel concept</strong>, with potential for complementary ground-floor commercial use.<br> This is a <strong>shovel-ready project</strong>, developers and investors seeking a clear entitlement path, reduced execution risk, and upside through new construction hospitality. Excellent access to major roadways, transportation, and surrounding amenities further enhances long-term value and demand.<br> <br> This is a <strong>shovel-ready project</strong>, developers and investors seeking a clear entitlement path, reduced execution risk, and upside through new construction hospitality. Excellent access to major roadways, transportation, and surrounding amenities further enhances long-term value and demand.<br> <br> 89-71 164th Street presents a compelling <strong>as-of-right development opportunity</strong> in the heart of Jamaica, Queens. The property sits on an approximately <strong>14,200 square foot lot</strong> and is located within a <strong>C6-2 zoning district</strong>, allowing for substantial future development potential. <br> <br> Based on the lot size and applicable zoning regulations, the site supports <strong>approximately 85,000 buildable square feet</strong>, <strong>subject to zoning verification and architectural analysis</strong>. The property benefits from strong frontage, efficient lot dimensions, and proximity to major transit, Jamaica Avenue retail corridors, and institutional demand drivers.<br> <br> <br> The current asking price reflects a land basis of approximately <strong>$112 per buildable square foot</strong>, positioning the offering <strong>at or below prevailing market metrics</strong> for comparable C6-zoned development sites in Jamaica and surrounding submarkets. Recent land transactions in the area have generally traded in the <strong>$110-$130 per buildable square foot range</strong>, with premiums achieved for sites offering as-of-right density, transit adjacency, and scalable floor plates.<br> <br> <br> This offering is well suited for <strong>mixed-use, hotel, or commercial development</strong>, subject to approvals. Preliminary structural and vertical expansion studies further enhance the site's value proposition, though purchasers are encouraged to conduct their own due diligence.<br> <br> <br> <strong>All zoning, FAR, and buildable area figures are estimates and subject to confirmation by purchaser's architect, attorney, and zoning consultant.</strong><br> <br>
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Home facts
- Year built:1951
- Listing ID #:RLS20069839
- Added:25 day(s) ago
- Updated:February 27, 2026 at 08:55 PM
Rooms and interior
- Rooms Total:1
- Basement:Yes
Structure and exterior
- Year built:1951
- Levels:3 Story
Finances and disclosures
- Price:$8,950,000
This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. © 2026 The Real Estate Board of New York, Inc., All rights reserved. RLS Data display by Coldwell Banker Warburg This advertisement does not suggest that the broker has a listing in this property or properties or that any property is currently available.New listings near 89-71 164th Street #COMMERCIAL
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