The Traderszone Network

Published in TZ Latest News 6 October, 2016 by The TZ Newswire Staff

Phoenix Realty Group acquires ground lease on Jamaica factory for $34M

Phoenix Realty Group paid $34.3 million to acquire the ground lease on a 46,000-square-foot factory in Jamaica, Queens, according to documents filed with the city Wednesday. The Midtown-based firm will take control of the property at 147-07 94th Avenue, which comes with up to 420,000 buildable square feet and can be developed for commercial or residential use. It paid about $81 per buildable square foot on the ground lease.

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