Two new high-rises across from Jamaica's main transit hub, marketed as the Sutphin Hillside Towers, have dropped more than 1,000 apartments and roughly 720,000 square feet of mixed-use space into downtown Jamaica, replacing a stretch long ruled by surface parking lots and small auto shops. The projects followed a $59.7 million opportunity-zone land deal that brokers say opened the door to institutional financing along the corridor. One building tops out at 25 stories with about 521 rental units; its companion rises 24 stories with roughly 524 units and includes an income-restricted affordable component plus ground-floor retail and amenities.
Deal and Brokerage
As reported by New York Real Estate Journal, managing partners Yuriy Ustoyev and Sadya Liberow of Asset CRG Advisors represented both buyer and seller in the $59.7 million opportunity-zone transaction. That price works out to about $83 per buildable square foot when measured against the roughly 720,000-square-foot zoning envelope cited by brokers. Public-record analysis cited by PincusCo shows the sale was recorded in January 2022 and uses an alternate buildability estimate that produces a higher per-buildable-square-foot figure.
What Was Built
The taller Hillside Tower at 147-35 95th Avenue wrapped construction in 2024 and brings about 521 rental units, plus commercial space and parking, according to New York YIMBY and local reporting by QNS. Its companion tower at 94-15 Sutphin Boulevard was completed the following year and contains roughly 524 units, along with a package of resident amenities and ground-floor retail, as reflected in leasing listings and city filings. Taken together, the pair delivers a major infusion of new housing and street-level retail right next to the transit hub.
Transit and Neighborhood Impact
The site sits directly across from the Long Island Rail Road and the AirTrain to JFK and is steps from the E, J and Z subway lines, a location that the New York Real Estate Journal notes offers roughly a 30-minute ride to Midtown Manhattan. The parcel's Qualified Opportunity Zone designation helped unlock tax incentives that drew institutional capital to the project, according to that reporting. State environmental filings for the development, on file with the New York State Department of Environmental Conservation, outline remediation and cleanup planning tied to the redevelopment. The towers join a growing cluster of transit-oriented projects that brokers and local coverage say are steadily reshaping downtown Jamaica's real estate market.
