Myrtle Wyckoff Assemblage Development Site Sold For $37 Million In Ridgewood

The Myrtle Wyckoff Assemblage is a development site located at 54-00 Myrtle Avenue, situated at the intersection of Myrtle Ave and Wyckoff Ave on the border of Ridgewood and Bushwick. This nearly full block assemblage consists of 7 tax lots and has a sale price of $37,000,000. The total building square footage is 70,573 with a price per square foot of $524, while the building square footage allowing for additional space is 225,000, leading to a price per buildable square foot of $164.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $37,000,000
• Building Square Feet: 70,573
• Price per Square Foot: $524
• Buildable Square Feet: 225,000
• Price per Buildable Square Foot: $164
• Address: 54-00 Myrtle Avenue/Myrtle Wyckoff Assemblage
• Market: Ridgewood

The transaction was facilitated by Erik Edeen, Patrick Madigan, Frederick Richter, and Joseph Moran, who are representatives from Avison Young. Their involvement highlights the professional brokerage aspect of this deal, representing the seller in this significant real estate transaction.