Two warehouses in Ridgewood, Queens will be no more. The Loketch Group just acquired two vacant structures at 801 Wyckoff Avenue and 819 Wyckoff Avenue for $11.25 million. They present up to 43,000 square feet of development potential and Loketch plans to use just about all of it for a new residential project. They’re planning a 42,971 square-foot, five-story building with 54 units. The average size will be 795 square feet and 29 of the units will be duplexes. There will also be 1,000 square feet of recreation space on the top floor, along with a 420 square-foot roof deck. It has been designed by J Frankl Associates.
The deal was brokered by EPIC Commercial Realty CEO Yona Edelkopf and senior associate broker Shay Zach brokered the deal. The Real Deal reported that the sellers were private investors Robert Gutman, Eugene Weiss and Jacob Hollender, who control Arcade Bookbinding Corp. The site is just a few blocks from the Myrtle-Wyckoff Avenues stop on the L train.
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