57-11 Myrtle Ave, Ridgewood, NY, 11385-4933, US

57-11 Myrtle Avenue

Asset Description

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis to arrange for the sale of 57-11 Myrtle Avenue (the “Property”), a 26,217 ZFA development opportunity and former 7,158 SF Duane Reade, located on the north side of Myrtle Avenue between Seneca Avenue and Onderdonk Avenue in Ridgewood, Queens. The 6,989 square foot lot is zoned C4-3A, allowing for a 3.00 FAR for residential, commercial and community facility use. The Property benefits from an additional 5,250 SF air-rights that are being transferred from the neighboring property 57-09 Myrtle Avenue bringing the total ZFA to 26,217.

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Attributes

Building area Gross

665 m²

Media

Investment Highlights

REPOSITIONING OPPORTUNITY

The Property sits on three tax lots and was previously a 7,158 SF Duane Reade. The Property is zoned C4-3, allowing for residential, commercial of community facility use. This unique and flexible repositioning opportunity offers a developer the opportunity to build up to 26,217 SF.

SUPERIOR CONNECTIVITY

The Property is located within a short walk of the Seneca Avenue and the Halsey StreetMd subway stations, which provide service to the ( 4, 5, 6, N, Q, R, W, A, B, C, F) subway lines, offering quick and easy access into both Brooklyn and the west and east sides of Manhattan. This incredible connectivity provides direct access throughout New York City and all five boroughs.

THRIVING RETAIL

The Property is located on Myrtle Avenue, one of Ridgewood’s main shopping corridors. There is no shortage of boutique shops and eateries along Myrtle Avenue and Fresh Pond Road, with dozens of new shops and restaurants continuing to emerge, adding to Ridgewood’s already thriving retail footprint.