683 Woodward Avenue

Description

RIDGEWOOD MIXED-USE ASSET WITH R6B ZONING AND COMMERCIAL OVERLAY Situated in the vibrant heart of Ridgewood, Queens, this substantial mixed-use property at 683 Woodward Avenue offers a compelling combination of pre-war character and significant development potential. Positioned on a bustling corridor known for its blend of commerce and community, this offering presents a versatile canvas for purchasers seeking a tangible asset in a high-demand neighborhood. *Property Overview & Building Configuration* The existing building represents a classic example of Ridgewood’s industrial-residential history, totaling approximately 5,650 square feet. The ground level is anchored by an expansive commercial space spanning approximately 2,500 square feet. Formerly utilized as a woolen cloth factory, this level features the distinct architectural elements of its industrial past, offering an open floor plan suitable for a wide variety of commercial applications. This space is further complemented by a substantial 1,575 square foot basement, providing extensive storage or auxiliary utility space. The second floor comprises approximately 1,575 square feet of residential living space, divided into two separate apartments. Each unit features a classic railroad-style layout with two bedrooms and one bathroom, retaining the traditional architectural charm of the area. The building is sold subject to existing configurations and lease statuses. *Zoning & Development Potential* A key highlight of this property is its favorable zoning designation. Located in an R6B residential zone with a C1-4 commercial overlay, the site offers significant air rights and expansion possibilities. Preliminary analysis suggests a maximum buildable area of approximately 10,250 square feet, allowing for a potential vertical enlargement or a complete redevelopment of the site. Possibilities for the site could include expanding the current residential square footage to create additional units, modernizing the ground floor for retail or community facility use, or executing a ground-up mixed-use project to maximize the allowable floor area ratio (FAR). Buyers must consult with their own architect and zoning attorney to confirm all buildable square footage, permissible uses, and proposed plans. *Location & Neighborhood* Ridgewood has established itself as one of Queens’ most desirable neighborhoods, celebrated for its historic districts, tree-lined streets, and thriving local economy. The property is ideally situated to take advantage of this growth, offering immediate access to a diverse array of neighborhood amenities, including cafes, restaurants, and retail shopping along the Woodward and Myrtle Avenue corridors. Transportation is easily accessible, ensuring connectivity to Brooklyn and Manhattan, making this an attractive location for future residential occupants and commercial patrons alike. This property represents a rare opportunity to acquire a substantial structure with value-add potential in a mature and stable market. *Due Diligence* All square footage measurements, zoning information, and lot dimensions are approximate and should be independently verified by the purchaser. The property is sold in "as-is" condition. Access to the property and detailed inspections are to be arranged through the listing office.