Municipal Credit Union Secures 6,000-Square-Foot Retail Branch in Jamaica, Queens

Municipal Credit Union has committed to a long-term retail location in the Jamaica neighborhood of Queens, securing a 15-year lease for approximately 6,000 square feet at 162-15 Jamaica Avenue. The property is owned by Michael Rosilio, whose family acquired the site in November 2024 for $10.5 million from Ruben Azrak.

Asking rent for the ground-floor retail location along the commercial corridor topped $100 per square foot. Transaction representation included Josh Augenbaum and Murray Mizrachi of Augenbaum Realty acting for the landlord, while Jordan Kaplan of CBRE represented the financial institution.

The transaction continues leasing activity across the commercial parcel, where neighboring tenants include an Olgam Life plasma donation center, Cold Stone Creamery, and a recently signed 25,000-square-foot Fitness Factory at the adjacent 162-11 Jamaica Avenue address. For retail investors and commercial brokers, this commitment underscores resilient institutional tenant demand and strong ground-floor rental values in outer-borough retail districts.