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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 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved p. 1
6010 Madison StreetRidgewood Queens, New York
Offering Memorandum
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 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved
p. 2
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.
Non-endorsement Notice
All property showings are by appointment only. Please consult your Marcus & Millichap agent for more details.
Pricing and Financial Analysis6010 Madison Street - Ridgewood Queens, NY
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 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved
p. 4
6010 Madison StreetPricing and Financial AnalysisFinancial Overview
Site Description
The Offering
Property Address
Accessor’s Parcel Number 03530-0005
Zoning R5B
6010 Madison Street Queens, NY 11385
Price
Lot Dimensions
Buildable Square Feet
Type of Ownership
6,750
Fee Simple
Price Per BSF $200.00
$1,350,000
50 ft. x 100.42 ft.
Building Square Feet
Building Dimensions (2 Family)
2,480
20 ft. x 62 ft.
Property Description6010 Madison Street - Ridgewood Queens, NY
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 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved
p. 6
6010 Madison Street
Marcus & Millichap is pleased to offer, 6010 Madison Street located between 60th Place and Fresh Pond Road in the Ridgewood section of Queens, NY. The property sits on a 50 foot by 100.42 foot lot with 50 feet of frontage on Madison Street. 6010 Madison Street is zoned R5B. The property has an “As of Right” total buildable square footage of 6,750 (Block: 3530, Lots: 5).
This property offers investors the rare opportunity to purchase a 50’ by 100’ lot with a two-family building and garage in the front and rear. This is ideal for an owner user with substantial parking for commercial or personal use. The property also offers developers a rare 50’ by 100’ lot to develop in the future. Located in the Ridgewood, section of Queens, New York.
Property DescriptionInvestment Overview
Investment Highlights
• Rare Prime Ridgewood Apartment Building • Rare Development Site Situated by 60th Place and
Madison Street• Thirty Minutes Subway Ride into Manhattan | Two
Blocks to Fresh Pond Road “M” Subway Station• Two Free Market Apartment Units• R5B Zoning Allowing for 6,750 Buildable Square
Feet “As of Right”• 10,000 Square Feet Available When Combining the
Facility Use• Property Delivered Vacant • Building in Good Condition• One Block to Fresh Pond Road Retail Corridor• Steps from Benninger Playground
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 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved
p. 7
6010 Madison StreetProperty DescriptionInterior 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 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved
p. 8
6010 Madison StreetProperty DescriptionInterior 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 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved
p. 9
6010 Madison StreetProperty Description
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 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved
p. 10
6010 Madison StreetProperty DescriptionMaps
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 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved
p. 11
6010 Madison StreetProperty DescriptionAerial 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 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved
p. 12
6010 Madison Street
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.
Property DescriptionNeighborhood Overview
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 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved
p. 13
6010 Madison Street
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.
Property DescriptionSurrounding 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.
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.
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.
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.
Presented by:
Offering Memorandum 6010 Madison Street - Ridgewood Queens
Offices Throughout the U.S. and Canadawww.MarcusMillichap.com
Tyler SchadtLicensed Real Estate SalespersonNational Multi Housing GroupManhattan OfficeOffice: (212) 430-5207Cell: (585) 217-1334License: NY: 10401239272Tyler.Schadt@marcusmillichap.comwww.marcusmillichap.com/TylerSchadt
Matthew FotisSenior Managing DirectorSenior Director, National Multi Housing GroupManhattan OfficeOffice: (212) 430-5234License: NY: 10301207136Matthew.Fotis@marcusmillichap.comwww.marcusmillichap.com/MatthewFotis
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 Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved
p. 15
6010 Madison StreetPricing and Financial AnalysisFinancial Overview
Site Description
The Offering
Property Address
Accessor’s Parcel Number 03530-0005
Zoning R5B
6010 Madison Street Queens, NY 11385
Price
Lot Dimensions
Buildable Square Feet
Type of Ownership
6,750
Fee Simple
Price Per BSF $237.04
$1,600,000
50 ft. x 100.42 ft.
Building Square Feet
Building Dimensions (2 Family)
2,480
20 ft. x 62 ft.