for breaking news visit www.timesnewsweekly.com APRIL 16, 2015 • times 3 Row of buildings sells for nearly $7M in hot Ridgewood market BY LIAM LA GUERRE lguerre@ridgewoodtimes.com @LiamLaGuerre An assemblage of four contiguous buildings was sold in Ridgewood for $6.75 million as the heated Ridgewood market continues to see more interest. The buildings, 56-48 through 56-54 Myrtle Ave., are all three-story, mixed-use attached properties with 17,645 square feet of space, and located just a few blocks away from the Myrtle-Wyckoff Avenues L/M subway station. There are eight residential apartments in the buildings, and two retail stores on the ground floor. A Cushman & Wakefield team of Thomas Donovan, Tommy Lin, Eugene Kim and Robert Rappa combined to represent the seller in the transaction. “These properties are ideally located in the heart of Ridgewood, currently one of the most in-demand neighborhoods in Queens,” Donovan said. “We were able to utilize our proven marketing process and leverage the tremendous interest in Ridgewood to achieve the full asking price for our client.” Recently, a Ridgewood apartment building at 71-13 60th Lane sold for $21 million, which was more than double its last sale price in 2012, when the former owner paid $8.6 million for it. The increase in prices reflects how real estate investors are looking at the neighborhood. Is state balking at Ridgewood Reservoir wetland declaration? BY ROBERT POZARYCKI rpozarycki@ridgewoodtimes.com @robbpoz The state Department of Environmental Conservation (DEC) appears to be moving away from possible wetland status for the Ridgewood Reservoir, according to the Community Board 5 (CB 5) Parks Committee. For nearly five years, the board and environmentalists have pressed the DEC to declare the 55-acre site on the Brooklyn/Queens border in Glendale as a wetland. The declaration would recognize the sensitive ecology that formed in the reservoir since it was taken out of the city’s water system decades ago and grant the state authority to regulate its future use. But CB 5 recently learned that DEC officials weren’t so sure that much of the Ridgewood Reservoir meets the criteria for wetland status. According to Steve Fiedler, CB 5 Parks Committee chair, the DEC indicated that Basin 3, the westernmost and largest of the three reservoir chambers, did not meet the minimum qualifications for a wetland. In past years, the city planned to clear this basin and transform it into athletic fields and other active park space, but those plans were scrapped due to community opposition and financial constraints. Basin 2, the center chamber which includes a large natural lake, did not meet acreage requirements under DEC wetland criteria, but Fielder said the agency would likely declare it a wetland due to “extraordinary community concern.” Fielder added that DEC officials indicated they did not evaluate Basin 1, the smallest and easternmost chamber, because inspectors were unable to enter due to heavy vegetation along the basin walls. The committee co-chair charged in a phone interview that the DEC failed to properly evaluate the reservoir as a wetland, echoing sentiments in a resolution Board 5 adopted at its April 8 meeting in Middle Village. “They did no plant evaluation, they did no soil evaluation and they did no testing,” Fiedler said. “They just went in and looked around and found it very dry after a rainstorm. They also went in during the winter when they shouldn’t be looking for wetland environments.” In a letter to DEC Commissioner Joseph Martens, CB 5 District Manager Gary Giordano wrote that a preliminary assessment prepared by Round Mountain LLC for the city Parks Department “identifies an important wetland in the south end of the west basin.” Giordano noted that such characteristics were confirmed in a site visit by Round Mountain officials last May. “It is very important that NYS DEC engage in an in-depth study of plant life at the Ridgewood Reservoir, and that in-depth soil samples be taken, and not limited to the dry season,” Giordano wrote to Martens. “If it is not feasible for NYS DEC to conduct the necessary plant life studies required for wetland determination in the spring and summer, DEC should be able to rely on expert studies that have been performed during the past 15 years related to the Ridgewood Reservoir.” The Times Newsweekly reached out to the DEC for comment; as of press time, no response was provided. THE COURIER/File Photo The Ridgewood Reservoir Photo courtesy of Cushman & Wakefield 56-48 to 56-54 Myrtle Ave.
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