6010 Madison Street Ridgewood Queens, New York
OfferingThis information has beenMemorandum secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & p. 1 Millichap is a trademark of Marcus & Millichap Real Estate Investment Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved Non-endorsement Notice 6010 Madison Street
Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.
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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment p. 2 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved Pricing and Financial Analysis 6010 Madison Street - Ridgewood Queens, NY Pricing and Financial Analysis 6010 Madison Street Financial Overview The Offering
Property Address 6010 Madison Street Queens, NY 11385 Accessor’s Parcel Number 03530-0005 Zoning R5B
Site Description
Price $1,350,000 Buildable Square Feet 6,750 Price Per BSF $200.00 Lot Dimensions 50 ft. x 100.42 ft. Building Square Feet 2,480 Building Dimensions (2 Family) 20 ft. x 62 ft. Type of Ownership Fee Simple
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment p. 4 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved Property Description 6010 Madison Street - Ridgewood Queens, NY Property Description 6010 Madison Street Investment Overview
Investment Highlights Marcus & Millichap is pleased to offer, 6010 Madison • Rare Prime Ridgewood Apartment Building Street located between 60th Place and Fresh Pond • Rare Development Site Situated by 60th Place and Road in the Ridgewood section of Queens, NY. The Madison Street property sits on a 50 foot by 100.42 foot lot with 50 • Thirty Minutes Subway Ride into Manhattan | Two feet of frontage on Madison Street. 6010 Madison Blocks to Fresh Pond Road “M” Subway Station Street is zoned R5B. The property has an “As of Right” • Two Free Market Apartment Units total buildable square footage of 6,750 (Block: 3530, • R5B Zoning Allowing for 6,750 Buildable Square Lots: 5). Feet “As of Right” • 10,000 Square Feet Available When Combining the This property offers investors the rare opportunity to purchase a 50’ by 100’ lot with a two-family building Facility Use and garage in the front and rear. This is ideal for an • Property Delivered Vacant owner user with substantial parking for commercial or • Building in Good Condition personal use. The property also offers developers a rare • One Block to Fresh Pond Road Retail Corridor 50’ by 100’ lot to develop in the future. Located in the • Steps from Benninger Playground Ridgewood, section of Queens, New York.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment p. 6 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved Property Description 6010 Madison Street Interior Photos
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment p. 7 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved Property Description 6010 Madison Street Interior Photos
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment p. 8 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved Property Description 6010 Madison Street
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment p. 9 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved Property Description 6010 Madison Street Maps
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment p. 10 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved Property Description 6010 Madison Street Aerial View
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment p. 11 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved Property Description 6010 Madison Street Neighborhood Overview
Ridgewood, Queens which is located on the border of Williamsburg and Bushwick in Brooklyn has seen tremendous growth the past few years. With easy access to Manhattan from the “L” and “M” subway line, this proves as a convenient alternative to other gentrifying neighborhoods. Aside from the subway, Ridgewood connects ten different bus lines. Myrtle Avenue serves as one of the main retail corridors in this neighborhood and houses a range of tenants from ma & pa restaurants to national tenants.
Unique and diverse business owners are taking advantage of the new influx of tenants and opening their doors in Ridgewood. The Factory Bar & Restaurant and Julia’s are good examples of this. But, don’t discount Gottscheer Hall, a neighborhood longtime venue. Between the borders of Cypress Avenue, Fresh Pond Road and Metropolitan Avenue there has seen a number of new developments that are attracting new investors and tenants. From the historic 2,500 seat movie theater conversion on Myrtle Avenue into 50 luxury finished apartments and commercial space on the lower floor to a five store 125 unit with 3,000 square feet of dedicated artist space located on Starr Street. Though Ridgewood has seen incredible changes through the past five years the neighborhood keeps its charm through historic and landmark districts and a drive to keep its character.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment p. 12 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved Property Description 6010 Madison Street Surrounding Developments
Ridgewood Theatre The Ridgewood Theatre A Full-Service Luxury doorman elevator building located in prime Ridgewood. This stunning landmark building features a dramatic and sweeping landscaped outdoor terrace in addition to an impressive array of amenities spaces, creating a private oasis for its residents. Doorman, Fitness Center, Pet Spa, Bike Room, Lounge, and a rememberable view.
1351 Dekalb Avenue 1351 DeKalb Avenue is a 27-unit development will comprise 17,816 square feet of residential space. Residents will have access to laundry facilities and bike storage at the cellar level, in addition to a 14-vehicle parking lot.
350 Saint Nicholas Avenue 350 Saint Nicholas Avenue. AB Capstone’s planned 17-story, 234,623-square-foot, mixed-use tower will be comprised of 129 residential units and will include 90,000 square feet of commercial space, 3,300 square feet of community facility space and 352 parking spaces.
1873 Starr Street 1873 Starr Street is a 140,000 SF, 138-unit high end rental project located in the Ridgewood neighborhood of Queens. Building amenities will include two roof top terraces, state of the art gym, business center, resident lounge and parking. The anticipated completion date is 2019.
1206 Putnam Avenue 1206 Putnam Avenue will contain 21 rental units for a total square foot- age of 14,693 square feet. The unspecified community facility will likely be positioned on the property’s lower levels and measures 6,067 square feet. Residents will have access to 11 parking space also.
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment p. 13 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved Offering Memorandum 6010 Madison Street - Ridgewood Queens
Presented by:
Matthew Fotis Senior Managing Director Senior Director, National Multi Housing Group Manhattan Office Office: (212) 430-5234 License: NY: 10301207136 [email protected] www.marcusmillichap.com/MatthewFotis
Tyler Schadt Licensed Real Estate Salesperson National Multi Housing Group Manhattan Office Office: (212) 430-5207 Cell: (585) 217-1334 License: NY: 10401239272 [email protected] www.marcusmillichap.com/TylerSchadt
Offices Throughout the U.S. and Canada www.MarcusMillichap.com Pricing and Financial Analysis 6010 Madison Street Financial Overview The Offering
Property Address 6010 Madison Street Queens, NY 11385 Accessor’s Parcel Number 03530-0005 Zoning R5B
Site Description
Price $1,600,000 Buildable Square Feet 6,750 Price Per BSF $237.04 Lot Dimensions 50 ft. x 100.42 ft. Building Square Feet 2,480 Building Dimensions (2 Family) 20 ft. x 62 ft. Type of Ownership Fee Simple
This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment p. 15 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved