Updated 3 days ago

The Parthenon Two

148-36 89th Ave, BULK

Jamaica, Queens | 148th Street & 150th Street

Bulk Sale Condo

$12,000,000

Listing Features

  • Dishwasher
  • Microwave
  • S Steel Appliances

Building Amenities

  • Video Intercom
  • Bike Storage
  • Elevator
  • Garage
  • Laundry Room

Policies

  • Pieds A Terre Ok

Property Description for 148-36 89th Ave, BULK

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 History for 148-36 89th Ave, BULK

Now
08/11/2026
$12,000,000
Initial Price by Sarah Kim
Compass
Launch

Building Details for 148-36 89th Ave

OwnershipCondo
Building TypeLow-Rise
Service LevelVideo Intercom
AgePost-War
AccessElevator
Year Built2020
Financing Allowed90%
Floors/Apts8/27
Learn More About the Building

Transit and Citi Bike

Subway

Sutphin Blvd
0.25 miles
Parsons Blvd
0.27 miles
Sutphin Blvd-Archer Av-JFK Airport
0.28 miles
Jamaica Center-Parsons/Archer
0.31 miles

Railroad

JamaicaLong Island Rail Road
0.35 miles

Building Availability

APPSF
Median
Average
-
-
-
-
$2,750
$2,750
Last 12 months
-
-
-

Four+ Beds in Jamaica

APPSF
Median
Average
-
-

Jamaica | Queens

Quick Profile

Jamaica Queens is buzzing. Although it doesn’t have the same level of excitement or sensory overload that Times Square imparts on its visitors, it’s a bustling city center just brimming with activity. The courts, government offices, hospitals, colleges, ethnic restaurants of every kind, big box retailers and mom-and-pop shops – the neighborhood has a lot going on at any given moment.

 Jamaica, a diversely populated middle-class neighborhood located in southeastern Queens has a huge commercial and retail district with a residential component too. Its boundaries are Hillside Avenue to the northwest, Van Wyck Expressway to the south, Linden Boulevard to the southeast, and 188th Street and Jamaica Boulevard to the northeast.

 Jamaica has a similar history to other areas of Queens and Manhattan. Indigenous tribes called it home until the Dutch arrived in the mid-1600s. They purchased the land for a very small amount (history says two rifles, a fur coat, and some gun powder). Dutch Governor Peter Stuyvesant named it Rustdorp, which translates to rest town. English colonists took over the lands from the Dutch around 1655 and changed the name to Jamaica.

 In the late 1770s, Jamaica became a popular trading post and it was eventually incorporated into a village in 1814. In 1834, B and J Railway Company built a train line connecting Brooklyn to Jamaica. It didn’t last long because B and J Railway ran out of money to keep the trains operational. New investors stepped in and saved the company. They renamed the organization the Long Island Rail Road Company.

 In 1898, Queens became part of New York City and served as the county seat for Manhattan.

 Today’s Jamaica has a thriving business district that represents the diversity of Queens. West Indian grocery stores, African American bath and beauty supplies, South American eateries, Indian owned electronic stores, Italian grocers, South East Asian markets line the streets selling their goods and services.

 There are even green spaces in this densely populated urban neighborhood. Rufus King Park, Marconi Park, Jamaica Playground, Saint Albans Park and Baisley Pond Park are just a few of the more notable ones.  

 Jamaica is accessible with plenty of transportation options. Jump on the Long Island Railroad and be in Manhattan in 35 minutes, or head the other direction to Montauk or the Hamptons. The Air Train takes you to John F. Kennedy International Airport. Subway and bus lines will whisk you to Manhattan, Brooklyn, or further into Queens.

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 2194610