New York, May 4, 2017 – Cushman & Wakefield announced today that the firm was exclusively selected to market the Ridgewood Tower development site located at 336-350 St. Nicholas Avenue in the heart of the Ridgewood neighborhood of southwest Queens. The asking price is listed at $31 million.
The property includes approved plans for a 17-story mixed-use building totaling 180,000 buildable square feet with onsite parking, retail, office, community use space and 129 luxury apartments. The apartments consist of 39 studios, 51 one-bedroom, 27 two-bedroom, and 12 three-bedroom apartments. The property is also eligible for a 421A abatement.
A Cushman & Wakefield team of Thomas A. Donovan, Tommy Lin, Eugene Kim and Robert Rappa is leading the efforts.
“As Ridgewood continues to see an influx of the younger generation, drawn to the diversity and accessibility of the neighborhood, the site becomes a valuable opportunity to meet the demands for housing in the up-an-coming area,” said Thomas A. Donovan, Vice Chairman of Cushman & Wakefield. “The pre-approved plans make this an excellent option for developers looking to make a statement in the surging community.”
Located on the southeast corner of Palmetto Street and St. Nicholas Avenue, just steps away from Myrtle Avenue, the site is in close proximity to an eclectic mix of restaurants, bars and shops in the Ridgewood and the surrounding Bushwick neighborhood of East Williamsburg. The property is easily accessible via the M and L subways at the Myrtle-Wyckoff Avenues train station just one block away.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.