Itzhaki Properties retained to sell 6241-6249 Forest Avenue

Itzhaki Properties has been retained on an exclusive basis to broker the sale of 6241-6249 Forest Ave., a development site in Ridgewood. The site is comprised of a vacant lot, containing three tax lots, with approved DOB plans for a 57,528 s/f mixed-use building consisting of 44 apartments, 23 parking spots, retail space and a community facility. The property is also eligible for a 421A tax abatement. Located on a tree lined street between Metropolitan Ave and Bleecker St, 6241-6249 Forest Ave. is in the heart of the retail and residential neighborhood of Ridgewood. Being situated one block from Metropolitan Ave., Queens and Brooklyn’s major retail thoroughfare, the site is surrounded by major national retailers such as Dunkin Donuts, Subway, Walgreens and 7-Eleven. The property is one block from the Q39 and Q54 buses and within walking distance of the Forest Ave. M subway station, making for an easy 25 minute commute into lower Manhattan. Known for its brick and stone two-story buildings, Ridgewood is an urban neighborhood with a quiet and homey feel to it. The neighborhood has experienced an increase in residential development and has grown in popularity which provides investors and/or developers with a great opportunity.