JMC HOLDINGS BUYS NEWLY BUILT APARTMENT COMPLEX FOR $20M

NEW YORK CITY — JMC Holdings LLC has purchased 40-07 73rd St., a newly built residential and retail property in the Jackson Heights neighborhood of Queens for $20 million. Developer Vig Properties sold the property. JMC Holdings has re-launched the property as The Roosevelt, a high-end rental building featuring 31 one, two- and three-bedroom apartments, a 6,930-square-foot, ground-floor retail space and two levels of below-grade parking. The firm has retained Citi Habitats to oversee residential leasing at The Roosevelt and SRS Real Estate Partners to market the property’s retail space. Monthly rents at the apartments range from $2,500 to $3,000.