The redevelopment of the NYPD parking garage is the first major milestone to arise from the Jamaica NOW Action Plan, a $153-million neighborhood revitalization initiative announced in 2015 by the de Blasio Administration, Queens Borough President Katz and the NYCEDC.
Brookfield Infrastructure, an affiliate of Brookfield Asset Management, has committed to fund half of the required initial equity investment, currently estimated to be approximately $613 million.
The San Francisco-based firm states that the property is located near bulk transmission lines, a major fiber path, as well as less than four miles from Digital Realty's existing data center campuses in Ashburn, VA.
The Silverman Group is buying a 41,000-square-foot, mixed-use warehouse building from the tenant for $3.6 million and has selected JLL as the exclusive leasing agent for the property.