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A new 17-story Ridgewood building is on the market for $35M before it’s even built

A new 17-story Ridgewood building is on the market for $35M before it’s even built

As construction workers broke ground on a 17-story, mixed-use building in Ridgewood this week, Cushman & Wakefield announced that the property is also on sale for nearly $35 million.

A representative from AB Capstone, the developers of the three lots located at 54-27 Myrtle Ave., 336 and 350 St. Nicholas Ave., confirmed that the site is on the market for $34.9 million as they are looking for a partner to make this project a joint-venture.

According the Cushman & Wakefield listing, the approximately 39,996-square-foot parcel of land is situated in a C4-3 zone, which allows for mixed-use buildings. The site is expected to have onsite parking, retail space, office space, community use space and 129 luxury apartments, with a number of them being deemed affordable in accordance with the 421A abatement approved plans.

The 17-story building will consist of 39 studio apartments, 51 one-bedroom apartments, 27 two-bedroom apartments, and 12 three-bedroom apartments.

The cellar will be 29,508 square feet and will have accessory parking and retail units. The first floor will be 29,681 square feet and will have retail space, accessory parking and some of the building’s mechanical rooms. The second floor is 23,798 square feet for retail, accessory parking and more mechanical rooms.

The third through fifth floors are planned to be 63,684 square feet and will contain commercial office space, a community use facility, and mechanical rooms, while the sixth through 17th floors will be 87,952 square feet each and will be for the residential apartments.