Alvista Towers

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Address: 147-36 94th Ave, Jamaica, NY 11435, USA
New York & Tri-State + Apartment Buildings
Created date: November 10, 2026
Date last updated: November 10, 2026
Price: $145,000,000Investment Analyzer NEW!

Institutional Scale and Modern Efficiency
• 380 residential units offering significant management economies of scale and minimizes operational volatility
• 25 story asset built in 2018 requiring minimal immediate capital expenditures

Strategic Regulatory Advantage & Upside
• Regulatory agreement includes the crucial 610 Amendment, which allows for rent mark-ups on subsidized voucher units
• Strong voucher-backed stability with 122 current voucher units

Long-Term Tax Protection
• Benefits from a long-term Article XI real estate tax abatement, providing material protection from future real estate tax reassessments through 2059, subject to ongoing compliance with applicable regulatory requirements
• Article XI status materially enhances long-term cash flow stability and improves downside protection in periods of rising operating costs or tax rate volatility, while remaining transferable to a new owner in connection with a sale

Robust Amenities & Infrastructure
Equipped with an extensive amenity package, including a 105-space parking garage, fitness centers, residents’ lounges, a children’s playroom, and a 190-space bike room

Federal Low Income Housing Tax Credits
Anticipation of generating additional tax credits until 2029

Unparalleled Transit Connectivity
• Situated at a premier transit hub, providing immediate access to the LIRR, JFK AirTrain, and multiple subway lines (E, J, Z)
• Boasts a near-perfect Walk Score, placing tenants within steps of essential retail, dining, and cultural amenities

Accretive Assumable Financing
Attractive existing $122M HDC mortgage stack with favorable interest rates as low as 2.22% maturing in 2059

Epicenter of the Jamaica Neighborhood Plan
The asset sits at the heart of the recently approved 230-block rezoning and recent $413 million commitment in city-secured funding for local infrastructure to renovate the Jamaica Avenue retail corridor, redevelopment of Station Plaza, and sewer and green infrastructure upgrades

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Broker Details

Ariel Property Advisors
Ariel Property Advisors

Ariel Property Advisors (212) 544-9500

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Key Property Information

Listing Status: Available
Listing Type: Highest & best offer
Property Types: Apartment Buildings
Price: $145,000,000
No. of Units: 380
Year Built: 2018
Building Size: 373,632 Sq ft
Opportunity Zone: No
Price per unit: $381,579
Address: 147-36 94th Ave, Jamaica, NY 11435, USA

Investment Analyzer

Step 1Financing Calculation

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Step 2Gross Rent Analysis

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Step 3Cap Rate Calculation

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Step 4Final Deal Analysis

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