Jackson Heights’ 17-story tower at 37-14 74th Street is up for sale, with a $48 million price tag set to break neighborhood records this week.

Real estate brokers at Cushman & Wakefield confirmed to NYC Pulse that the listing at 37-14 74th Street officially hit the market on Monday, June 10. The building—anchoring the block between Roosevelt Avenue and 37th Avenue—features ground-floor retail, three floors of medical and community office space, and 68 rental apartments, all currently leased.

The Dabby Group, led by principal Gaurav Dabby, developed the tower in 2017, betting on Jackson Heights’ rising status as a transit-rich, multicultural hub. “We saw the neighborhood changing and invested early,” Dabby said by phone. “Now buyers recognize how rare a large asset like this is in Queens.” Similar-sized buildings nearby haven’t sold for more than $35 million in the last five years, according to public records.

The building’s monthly rent roll stands at $260,000, per offering documents reviewed by NYC Pulse, with tenants including Elmhurst Pediatrics and three national retail chains. The tower is steps from the 74th Street–Broadway transit hub, serving the 7, E, F, R, and M trains, making it a draw for office and residential tenants alike.

Local agents say the $48 million asking price is ambitious but reflects surging investor appetite for mixed-use properties in western Queens. “Jackson Heights has become one of the most competitive rental markets in the city,” said Bianca Encarnación of Modern Spaces, a Long Island City brokerage. “This is a generational asset.”

Frequently Asked Questions

Who owns 37-14 74th Street and when was it built?

The Dabby Group, a Queens-based development firm led by Gaurav Dabby, owns the property. Construction was completed in 2017, with the building opening to tenants shortly after. The group specializes in mixed-use projects in the borough.

What is inside the tower at 37-14 74th Street?

The Jackson Heights tower contains 68 rental apartments, three levels of medical and community office space, and ground-floor retail. Tenants include Elmhurst Pediatrics and several national brands; every unit is currently leased.

Why is the $48 million price tag significant for Jackson Heights?

The $48 million asking price is a record for the neighborhood, surpassing any recent multifamily or mixed-use sale in Jackson Heights. It reflects strong investor demand for transit-accessible, high-density buildings in Queens, according to local brokers.

Frequently Asked Questions

Who developed and owns the building at 37-14 74th Street in Jackson Heights?

The Dabby Group, a Queens-based development firm led by Gaurav Dabby, developed and owns the building.

When was the 17-story tower at 37-14 74th Street completed?

The building was completed in 2017.

What is the asking price for the Jackson Heights tower at 37-14 74th Street?

The asking price is $48 million, which is the highest ever for Jackson Heights.

What does the building at 37-14 74th Street contain?

It contains 68 fully-leased rental apartments, three floors of office space, and ground-floor retail.

Why is the $48 million price tag for 37-14 74th Street significant?

It is a record price for Jackson Heights, surpassing any recent multifamily or mixed-use sale in the neighborhood.

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