4 NOVEMBER 23, 2017 RIDGEWOOD TIMES WWW.QNS.COM
21-unit Bushwick building sold for $7.5 million
This 21-unit apartment building on Jeff erson Street recently sold for $7.5 million.
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EVERY DAY OF THE WEEK
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(and side streets between Wyckoff Ave. & Fresh Pond Rd.)
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SATURDAY
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71st Avenue Plaza
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BY ANTHONY GIUDICE
AGIUDICE@RIDGEWOODTIMES.COM
@A_GIUDICEREPORT
With real estate prices continuing
to rise in Ridgewood
and many other
communities in Queens, neighboring
Bushwick is in the midst of its own
skyrocketing market, as an apartment
building was recently sold for
more than $7 million.
A huge 21-unit apartment building
located at 41 Jefferson St. has sold
for $7.5 million, according to John
Horowitz, vice president and regional
manager of Marcus & Millichap’s
Brooklyn offi ce.
“The price paid reinforces an investor’s
belief in this specifi c pocket
of Bushwick,” said Shaun Riney of
Marcus & Millichap’s Brooklyn offi
ce. “Immediately surrounding the
property is over 1MM square feet of
residential, retail and commercial
development. It’s a dynamic location
with a real reason for rising retail and
residential rents.”
The multimillion-dollar property
is located on the corner of Bushwick
Avenue and Jefferson Street, just
minutes away from the area’s biggest
offi ce developments and the Rheingold
Brewery development.
According to Marcus & Millichap,
this off ering provides great scale and
upside in one of Brooklyn’s fastest-
growing retail corridors, “allowing
an investor to take advantage of heavy
foot traffi c and surging retail and residential
rents.”
Although this property lies in Bushwick,
sales such as this one resonate
over the Brooklyn/Queens border, and
have already made an impact in Ridgewood.
Recent sales of gut-renovated
apartment buildings in Ridgewood
have recently been listed for more
than $4 million.
Rents are also surging in Ridgewood
as more and more people are clamoring
to get into the neighborhood. The
Photo courtesy of Marcus & Millichap
Mill, which is billed as Ridgewood’s
largest residential building, has 89
rental units, with monthly rents for
the building’s one-bedroom, one-bathroom
apartments starting at $2,000,
ranging all the way to $2,475 each
month; and two-bedroom, one-bathroom
apartments between $2,500 and
$3,185 per month.
Ozone Park Kiwanis honors GWDC prez
at Masquerade and Costume Ball
Photos courtesy of Greater Woodhaven Development Corporation.
At the Ozone Park Kiwanis
Masquerade and Costume
Ball, the Kiwanis Members
Honored Maria A. Thomson, executive
director of the Greater
Woodhaven Development Corporation
and the Woodhaven Business
Improvement District all while in
their colorful unique costumes. The
tall pirate presenter was President
Victor Rodriquez, Kiwanis member
Paul Capocasale, dressed as a gangster
presented Thompson with the
award plaque.
Also at the Ozone Park Kiwanis
Masquerade and Costume Ball,
GWDC president Stephen Esposito
presented Thomson with the
GWDC’s very fi rst Legacy Award. In
the photo to Thomson’s left is Frank
Castelli, Kiwanis Dance Chairperson
(the pirate); Lisa Komninos, GWDC
offi ce secretary (in her rock and roll
costume); and Maureen Bermingham,
GWDC offi ce manager (dressed
as a Downton Abbey cast member).
Thomson received another plaque
from her GWDC offi ce staff .
