Off-Market Deal in Jamaica

Jamaica, Queens JV development opportunity. Two adjacent sites totaling approximately 150,000 BSF. • Site 1: Vacant retail site | ~80,000 BSF | proposed mixed-use rental with ground-floor retail • Site 2: Owner-occupied supermarket | ~70,000 BSF | proposed 100% rental building Ownership will roll both sites into the JV at approximately $200/BSF valuation, eliminating upfront land acquisition costs. Ownership seeks: • Long-term lease for 7,000 SF retail + 5,000 SF cellar at Site 1 for existing grocery operation • 20% share of post-construction rental revenue Seeking experienced multifamily developer JV partner.