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This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved p. 1

6010 Madison StreetRidgewood Queens, New York

Offering Memorandum

This information has been secured from sources we believe to be reliable, but we make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Buyer must verify the information and bears all risk for any inaccuracies. Marcus & Millichap is a trademark of Marcus & Millichap Real Estate Investment Services of New York, Inc. © 2019 Marcus & Millichap. All rights reserved

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6010 Madison Street

Marcus & Millichap is not affiliated with, sponsored by, or endorsed by any commercial tenant or lessee identified in this marketing package. The presence of any corporation’s logo or name is not intended to indicate or imply affiliation with, or sponsorship or endorsement by, said corporation of Marcus & Millichap, its affiliates or subsidiaries, or any agent, product, service, or commercial listing of Marcus & Millichap, and is solely included for the purpose of providing tenant lessee information about this listing to prospective customers.

Non-endorsement Notice

All property showings are by appointment only. Please consult your Marcus & Millichap agent for more details.

Pricing and Financial Analysis6010 Madison Street - Ridgewood Queens, NY


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6010 Madison StreetPricing and Financial AnalysisFinancial Overview

Site Description

The Offering

Property Address

Accessor’s Parcel Number 03530-0005

Zoning R5B

6010 Madison Street Queens, NY 11385

Price

Lot Dimensions

Buildable Square Feet

Type of Ownership

6,750

Fee Simple

Price Per BSF $200.00

$1,350,000

50 ft. x 100.42 ft.

Building Square Feet

Building Dimensions (2 Family)

2,480

20 ft. x 62 ft.

Property Description6010 Madison Street - Ridgewood Queens, NY


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6010 Madison Street

Marcus & Millichap is pleased to offer, 6010 Madison Street located between 60th Place and Fresh Pond Road in the Ridgewood section of Queens, NY. The property sits on a 50 foot by 100.42 foot lot with 50 feet of frontage on Madison Street. 6010 Madison Street is zoned R5B. The property has an “As of Right” total buildable square footage of 6,750 (Block: 3530, Lots: 5).

This property offers investors the rare opportunity to purchase a 50’ by 100’ lot with a two-family building and garage in the front and rear. This is ideal for an owner user with substantial parking for commercial or personal use. The property also offers developers a rare 50’ by 100’ lot to develop in the future. Located in the Ridgewood, section of Queens, New York.

Property DescriptionInvestment Overview

Investment Highlights

• Rare Prime Ridgewood Apartment Building • Rare Development Site Situated by 60th Place and

Madison Street• Thirty Minutes Subway Ride into Manhattan | Two

Blocks to Fresh Pond Road “M” Subway Station• Two Free Market Apartment Units• R5B Zoning Allowing for 6,750 Buildable Square

Feet “As of Right”• 10,000 Square Feet Available When Combining the

Facility Use• Property Delivered Vacant • Building in Good Condition• One Block to Fresh Pond Road Retail Corridor• Steps from Benninger Playground


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6010 Madison StreetProperty DescriptionInterior Photos


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6010 Madison StreetProperty DescriptionInterior Photos


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6010 Madison StreetProperty Description


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6010 Madison StreetProperty DescriptionMaps


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6010 Madison StreetProperty DescriptionAerial View


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6010 Madison Street

Ridgewood, Queens which is located on the border of Williamsburg and Bushwick in Brooklyn has seen tremendous growth the past few years. With easy access to Manhattan from the “L” and “M” subway line, this proves as a convenient alternative to other gentrifying neighborhoods. Aside from the subway, Ridgewood connects ten different bus lines.Myrtle Avenue serves as one of the main retail corridors in this neighborhood and houses a range of tenants from ma & pa restaurants to national tenants.

Unique and diverse business owners are taking advantage of the new influx of tenants and opening their doors in Ridgewood. The Factory Bar & Restaurant and Julia’s are good examples of this. But, don’t discount Gottscheer Hall, a neighborhood longtime venue. Between the borders of Cypress Avenue, Fresh Pond Road and Metropolitan Avenue there has seen a number of new developments that are attracting new investors and tenants. From the historic 2,500 seat movie theater conversion on Myrtle Avenue into 50 luxury finished apartments and commercial space on the lower floor to a five store 125 unit with 3,000 square feet of dedicated artist space located on Starr Street.Though Ridgewood has seen incredible changes through the past five years the neighborhood keeps its charm through historic and landmark districts and a drive to keep its character.

Property DescriptionNeighborhood Overview


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6010 Madison Street

350 Saint Nicholas Avenue

350 Saint Nicholas Avenue. AB Capstone’s planned 17-story, 234,623-square-foot, mixed-use tower will be comprised of 129 residential units and will include 90,000 square feet of commercial space, 3,300 square feet of community facility space and 352 parking spaces.

Property DescriptionSurrounding Developments

Ridgewood Theatre

The Ridgewood Theatre A Full-Service Luxury doorman elevator building located in prime Ridgewood. This stunning landmark building features a dramatic and sweeping landscaped outdoor terrace in addition to an impressive array of amenities spaces, creating a private oasis for its residents. Doorman, Fitness Center, Pet Spa, Bike Room, Lounge, and a rememberable view.

1873 Starr Street

1873 Starr Street is a 140,000 SF, 138-unit high end rental project located in the Ridgewood neighborhood of Queens. Building amenities will include two roof top terraces, state of the art gym, business center, resident lounge and parking. The anticipated completion date is 2019.

1351 Dekalb Avenue

1351 DeKalb Avenue is a 27-unit development will comprise 17,816 square feet of residential space. Residents will have access to laundry facilities and bike storage at the cellar level, in addition to a 14-vehicle parking lot.

1206 Putnam Avenue

1206 Putnam Avenue will contain 21 rental units for a total square foot-age of 14,693 square feet. The unspecified community facility will likely be positioned on the property’s lower levels and measures 6,067 square feet. Residents will have access to 11 parking space also.

Presented by:

Offering Memorandum 6010 Madison Street - Ridgewood Queens

Offices Throughout the U.S. and Canadawww.MarcusMillichap.com

Tyler SchadtLicensed Real Estate SalespersonNational Multi Housing GroupManhattan OfficeOffice: (212) 430-5207Cell: (585) 217-1334License: NY: 10401239272Tyler.Schadt@marcusmillichap.comwww.marcusmillichap.com/TylerSchadt

Matthew FotisSenior Managing DirectorSenior Director, National Multi Housing GroupManhattan OfficeOffice: (212) 430-5234License: NY: 10301207136Matthew.Fotis@marcusmillichap.comwww.marcusmillichap.com/MatthewFotis


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6010 Madison StreetPricing and Financial AnalysisFinancial Overview

Site Description

The Offering

Property Address

Accessor’s Parcel Number 03530-0005

Zoning R5B

6010 Madison Street Queens, NY 11385

Price

Lot Dimensions

Buildable Square Feet

Type of Ownership

6,750

Fee Simple

Price Per BSF $237.04

$1,600,000

50 ft. x 100.42 ft.

Building Square Feet

Building Dimensions (2 Family)

2,480

20 ft. x 62 ft.

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