Investment Overview

The subject offering is a 4,605 square foot ground floor commercial condominium located on Parsons Boulevard, between 88th Avenue and 89th Avenue. The property is net-leased to TJH Medical Services, one of the largest physician networks in New York City, and an affiliated partner of both Jamaica Hospital and Flushing Hospital. TJH Medical Services is owned by Jamaica Hospital. TJH Medical Services has been at this location since 2012, with a lease that runs through 2027 with three percent annual increases. The tenant is responsible for 100 percent of the real estate taxes above base-year 2013/2014 and is responsible for 100 percent of the Condo Maintenance Fees (CAM charges). The tenant has one (10) ten-year renewal option. This is a community facility commercial condominium that is fully built out as a full-service medical practice and urgent care facility. The unit sits at the base of the Parsons Windsor Condominium, a six story, 20-unit residential building that was constructed brand-new in 2007. The offering is located on Parsons Boulevard, in the heart of Queens’ Jamaica neighborhood. The property is located one block from the F Train (Parsons Boulevard) subway station and three blocks from the Jamaica Center – Parsons/Archer subway station (E, J & Z trains). Moreover, the property is surrounded by local and regional retailers, as well as thousands of housing units