Two Ridgewood warehouses will soon be the site of a 54-unit rental, The Real Deal reports. The Loketch Group, who have other residential developments in the works in the nearby north Brooklyn area, purchased the warehouses located at 801-819 Wyckoff Avenue for $11.3 million on Tuesday.
The property measures a total of 43,000 square feet. That means Loketch paid $261 per square foot, setting a record for the neighborhood for developments over 30,000 square feet, TRD reports.
The building will be five-stories tall when complete with 54 apartments averaging 795 square feet in size, according to NY YIMBY. Twenty-nine of those 54 units will be duplexes. The amenities so far include a 1,000 square foot recreational space on the building's top floor and a 420 square foot roof deck. The project is being designed by J. Frankl Associates, who have designed several other residential buildings in the neighborhood. The property is located just a few blocks from the L train stop at Myrtle-Wyckoff Avenue.
· Ridgewood site trades for a pricey $261 psf [TRD]
· 54 Unit, Five-Story Building To Replace Warehouses At 801 And 819 Wyckoff Avenue, Ridgewood [NY YIMBY]
· Loketch Group Coverage [Curbed]