62-67 60th Place, Ridgewood

GROUND LEASE:

62-67 60th Place is zoned R5B which allows for a residential development project. Demand for new residences in this neighborhood continues to grow, with the immediate neighborhood achieving 40+ per square foot for residential rents. The property is conveniently located under 10 blocks from the Middle Village / Metropolitan Avenue m train station offering quick transportation throughout the boroughs. This site offers investors the ability to develop a ground up project, and/or convert the current structure to residential use. Ridgewood has been undergoing a transformation that has brought with it premier retailers, restaurants and leisure destinations in addition to a high demand for housing.