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Brokerage
Posted: May 12, 2014
B. Edelkopf, Y. Edelkopf and Rybinskov of Itzhaki secure $3.25 million sale
Itzhaki Properties, a full-service commercial investment brokerage firm, arranged the sale of a mixed-use building located at 5823-25 Myrtle Ave. in Ridgewood. Itzhaki Properties represented both the buyer and the seller in the $3.25 million deal with CEO Yona Edelkopf representing the buyer, and Mike Rybinskov and Baruch Edelkopf representing the seller.
The 4,264 s/f property has 11,688 of buildable s/f and will be delivered to the buyer vacant. The three-story building currently consists of five residential units and five commercial units, including a men's clothing store and a dentist office.
"The Ridgewood neighborhood is on the rise and everyone is taking note," said Baruch Edelkopf, sales associate with Itzhaki Properties. "Many investors are now looking at Ridgewood as the next lucrative real estate marketplace, and based on our recent transactions we have to agree."
Ridgewood borders the neighborhoods of Maspeth, Middle Village and Glendale in Queens, and also borders the Brooklyn neighborhoods of Bushwick and South Williamsburg. 5832-25 Myrtle Avenue is in close proximity to the M and L subway trains.
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