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Mixed-Use Building to Replace Longtime Seafood Company in Downtown Jamaica

By Ewa Kern-Jedrychowska | November 20, 2016 11:19am
 This property near the AirTrain station in downtown Jamaica, which currently contains a longtime seafood firm, will be torn down to make way for a mixed-use development.
This property near the AirTrain station in downtown Jamaica, which currently contains a longtime seafood firm, will be torn down to make way for a mixed-use development.
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DNAinfo/Ewa Kern-Jedrychowska

QUEENS — A new mixed-use building will soon join the rapidly changing Jamaica real estate map. 

Phoenix Realty Group and Harlem-based Artimus Construction recently acquired the 52-year ground-lease for a property near the Jamaica AirTrain station for approximately $34 million, according to broker CPEX, city records and published reports.

The lease includes two 24-year extension options.

The current building, which has housed World Wide Food Products, a seafood company, for more than four decades, will be torn down to make way for the development, which will include residential units and retail space, as first reported by The Real Deal.

Two years ago, the property was listed for sale at $24 million by CPEX, which said in the listing that the property has the total space of about 35,000 square feet and buildable space of more than 420,000 square feet.

The site is located near the AirTrain station, where two other major developments are expected to break ground soon, including a 24-story Hilton Garden Inn and a massive two-tower mixed-use complex containing nearly 700 affordable units.

Artimus is also planning to build a 26-story apartment building at 147-20 94th Ave., across the street from its new project, which would bring 380 apartment units to downtown Jamaica.

The company expects to complete that building within about a year.

"We are progressing nicely on 147-20 94th Ave. and entered into a ground lease for the property across the street," a representative for Artimus said in an email. "The property’s commercial tenants are still occupying it while we run with our feasibility studies."

The developments are among a slew of new mixed-use and hotel buildings planned for Downtown Jamaica. 

Phoenix Realty Group did not immediately return phone calls seeking comment.

The companies have not yet filed any paperwork with the Department of Buildings.