We generated a market analysis study for an RFP response for a 2.3 mm SF mixed-use development in Queens, NY. This development was a mixed-use residential and commercial complex of approximately 2,320,000 gross square feet, including 1,500 residential units, of which 1,125 are market-rate condominiums, 300 are affordable condominiums, and 75 are market-rate rentals, as well as 346,075 gross square feet of retail and related commercial, 24,100 square feet of community facilities, 2,320 parking spaces, and approximately 44 acres of nature preserve and dune reconstruction.
This assignment was a challenge because of the lack of available comparable properties in the immediate market. We had to go further afield than we usually would have to find similar developments that incorporated the boardwalk and nature preserve elements.
For a better idea of the scale and overall complexity of the engagement, a summary of the RFP response is below.