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9503 & 9507 Cresskill Place Jamaica, Queens 8 Free Market Units 2 Buildings Zoning Upside Strong In-Place Income Two adjacent four-unit buildings offered as a package in a quiet, residential pocket of Jamaica, Queens. This well-maintained, income-producing portfolio includes 8 free market residential units-delivered occupied-great for long-term stability, future repositioning, or redevelopment. 9503 Cresskill Place Features four units ranging from approx. 597-723 sq ft with a mix of one- and two-bedroom layouts. Units include windowed kitchens, generous living areas, and ample in-unit storage. 9507 Cresskill Place Four additional units including layouts up to 1, 163 sq ft. Select residences feature oversized living rooms, dedicated dining areas, and multiple exposures. One unit spans nearly 40 feet across, offering townhouse-style proportions. The properties have been well maintained and held by long-term ownership. Current rent roll available upon request. Zoning: R5A Lot Size: 5, 250 sq ft Zoning allows for an additional two stories of development with potential to expand to just over 10, 806 buildable square feet (confirm all details with an architect). Downtown Jamaica is a vibrant hub in Queens, known for its bustling retail district, diverse shopping, and strong sense of community. From major retailers to local businesses, the area offers everything you need-and more. York College anchors the south side with a tree-lined campus, ample parking, and great public transit access. Residents enjoy nearby museums, parks, fitness centers, and movie theaters. The LIRR and multiple subway lines make commuting to Manhattan and beyond fast and convenient. With ongoing high-rise development, Downtown Jamaica is on the rise as a dynamic place to live, work, and explore. This is a rare opportunity to acquire two turnkey, free market assets with existing cash flow and clear upside in a rapidly growing pocket of Queens.
Our family of companies partner in delivering quality services in a one-stop-shopping environment. Together, we integrate the most comprehensive real estate, mortgage and insurance services available to fulfill your specific real estate needs.
Our family of companies offer our clients a new level of full-service real estate. We shall:
To learn more about our credentials, visit raveis.com today.
Our Executive Mortgage Banker:
Our Insurance Division:
$9,500,000
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
VP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 347.223.0992
Sarah.DeFlorio@Raveis.com
NMLS Mortgage Loan Originator ID 1880936
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
---|---|---|---|
Loan Amount | $7,600,000 | $7,600,000 | $7,600,000 |
Term | 360 months | 360 months | 180 months |
Initial Interest Rate** | 5.500% | 6.625% | 6.000% |
Interest Rate based on Index + Margin | 8.125% | ||
Annual Percentage Rate | 6.614% | 6.727% | 6.183% |
Monthly Tax Payment | $1,700 | $1,700 | $1,700 |
H/O Insurance Payment | $125 | $125 | $125 |
Initial Principal & Interest Pmt | $43,152 | $48,664 | $64,133 |
Total Monthly Payment | $44,977 | $50,489 | $65,958 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.