SOLD: Receiver Sale – Industrial Building in Jamaica, Queens, NY

Property has closed

Keen-Summit Capital Partners LLC  has been engaged by Edward J. LoBello, Receiver of J.B.J. Construction Corp., as Receiver’s real estate advisor.  Keen-Summit has the exclusive right to sell the property located at 92-26 180th Street, Jamaica, Borough and County of Queens, State of New York.

The property is a 10,000 sq. ft. industrial building that was built in 1927.  The property is situated on a .23 acre lot.  The building has 16 ft. ceiling heights and 3 overhead doors.


JBJ Flyer 1-27-2020

NDA re Ed LoBello Receiver JBJ Construction – Final  (Execute and Return the NDA to Chris Mahoney and Heather Milazzo)

Excerpt from the NDA Regarding Brokerage Commissions – Prospect understands that Keen has ONLY agreed to share its brokerage commission based upon the following terms and conditions:

  1. That Prospect’s principal closes on the Property Transaction;
  2. That Prospect’s principal identified Prospect as its broker in its NDA, in any written offers for the Property, and in the mutually executed Transaction Agreement;
  3. That Prospect is a New York State licensed real estate broker;
  4. That the sharing of a commission will only be after Keen net’s out its out-of-pocket marketing costs and expenses, not to exceed $15,000;
  5. That Keen’s obligation to share its commission (net of expenses) shall be subject to the prior entry of an order of the Court approving the payment of Keen’s fees; and
  6. That Keen’s obligation to share its commission shall be subject to Keen’s actual receipt of such commission.

Parcel ID:  10319-0022
Gross Building Area:  10,000 SF
Site Area:  0.23 Acres
Ceiling Height:  16’
Year Built:  1927
Zoning:  M1-2 (Lt. Manufacturing)
Max Allowable Commercial FAR:  2.00
Max Allowable Facility FAR:  4.80
Drive-in Doors:  3
Construction:  Brick w/ wood supports
Roof:  Flat rolled asphalt


S. Queens Industrial Submarket has 3.5% Vacancy Rate, which is a full point lower than the NY Market


Chris Mahoney
(646) 381-9205

Heather Milazzo
(646) 381-9207

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