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Brokerage
Posted: June 9, 2014
EPIC Commercial sells $1.5 million development site in Queens
EPIC Commercial Realty, a full-service commercial investment brokerage firm formerly known as Itzhaki Properties, arranged the sale of 337-355 Saint Nicholas Ave. in Ridgewood. EPIC Commercial Realty brokered both sides of the $1.5 million off-market sale with Yona Edelkopf, CEO, representing the buyer, and associate brokers Baruch Edelkopf and Mike Rybinskov representing the seller.
Located on the Northwest corner of St. Nicholas Avenue and Palmetto Street, the property is currently a medical office with a month-to-month lease. The 4,829 s/f building includes 9,658 s/f of development rights and will be delivered vacant. 337-355 Saint Nicholas Avenue is located one block from the Myrtle Avenue stations of the L and M subway trains.
"After seeing the value and future potential of the neighborhood, the buyer was willing to pay an above market price for the property," said Rybinskov. "The real estate market in Ridgewood is stronger than ever and shows no signs of slowing down."
EPIC Commercial Realty has sold more than five properties in Ridgewood over the past six months including the recent $3,250,000 sale of 5823-25 Myrtle Avenue. EPIC Commercial Realty currently has more than 40 listings in Queens.
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