Itay Gamlieli Acquires Mixed-Use Property In Ridgewood, Queens For $2M

Located at 56-11 Catalpa Avenue in Ridgewood, Queens, this mixed-use property recently underwent a sale transaction. The property consists of a 100% occupied building with one ground floor retail unit, one office space, and two apartments. The total square footage of the property is 6,340, and it was sold for a price of $2,000,000 at a rate of $315 per square foot. The buyer of the property is Itay Gamlieli, while Sandy Axelrad is the seller.

Summary of transaction details

• Property Type: Mixed-use
• Transaction Amount: $2,000,000
• Address: 56-11 Catalpa Avenue, Ridgewood, Queens
• Market: Ridgewood, Queens
• Buyer: Itay Gamlieli
• Seller: Sandy Axelrad
• Brokers: Scott Plasky & William Stephan - Marcus & Millichap
• Square Footage: 6,340
• Price Per Square Foot: $315

The deal was facilitated by Scott Plasky and William Stephan from Marcus & Millichap, who represented the buyer and seller in the transaction.