Overview

Description

Ariel Property Advisors has been retained to sell the property located at 18-63 Starr Street in the growing neighborhood of Ridgewood, Queens. The lot measures 25’ x 100.92’ and is zoned R6B which provides a FAR of 2.0 and 5,046 BSF. Currently, there is a vacant two-family house on the lot.

The property is being sold with approved plans for a 5-story, 7-unit condominium project that totals approximately 5,900 gross square feet. Since the plans are for an alteration rather than a ground-up development, taxes are expected to remain low when the project is complete. The plans call for the following layout:

• First Floor: 1 unit containing 2 bedrooms and 2 bathrooms with a private backyard

• Second Floor: 2 units each with 1 bedroom, 1 bathroom, and a balcony

• Third Floor: 2 units each with 1 bedroom, 1 bathroom, and a balcony

• Fourth and Fifth Floors: 2 duplex units. One containing 1 bedroom and 2 bathrooms and the other containing 2 bedrooms and 2 bathrooms with of the bedrooms being a master bedroom located on the fifth floor. Both units have access to their own, separate private roof terraces.

The immediate area has been undergoing significant growth. One recent development is Camber Property Group and RD Management’s 18-81 Starr Street, also known as The Strand, which is a 5-story, 130-unit residential project that features a wide array of amenities.

Area amenities include The Greater Ridgewood Historical Society, Start Playground, The Grover Cleveland Athletic Field, and an abundance of local shopping, cafes, and nightlife.

The property is well situated with the Jefferson stop on the L train located just 5 blocks away.

For more information including development plans, please contact our office.

Documents

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