55-27 Myrtle Avenue, Ridgewood, NY 11385

Ridgewood, Ridgewood, New York 11385

$3,900,000   $3,400,000  

Listing ID Number

16747

Property Description

The Ridgewood Theater operated as a five-theater multiplex consisting of three floors and a stage totaling more than approximately 53,238 square feet. The site offers substantial frontage on Myrtle and Cypress Avenues, as well as Madison Street. It is located blocks from the M subway station amongst many national retailers including Duane Reade, McDonalds, Petland, Rite Aid and KB Toys. Opened as a vaudeville house on Dec. 23, 1916, the Ridgewood Theatre was converted to movie house the next year. It was designed by well-known architect Thomas W. Lamb, who built more than 300 theaters around the city and the world. It was last operated by the same people who run the Jackson Theatre and the now closed Loew's Plaza Corona. In March 2008, the Ridgewood Theater was closed for good. It remained a first-run theatre to the end.
The availability of a property with this size and potential is an uncommon occurrence in today’s marketplace. The entire property is and will be delivered completely vacant, posing a prime opportunity for a user, investor or conversion to residential, hotel or commercial uses. All buildable square footage figures and potential uses should be independently checked and verified.

Overview

Building Type:Commercial Buildings, Development/Conversion Sites
Location:Myrtle Avenue between Madison Street and Putnam Avenue.
Block/Lot:3451/7
Lot Sq Ft:17,746
(Approx.)
Stories:3
Zoning:C4-3A
FAR:3.0
Year Built:1915
Landmark Status:Yes
Building Sq Ft:53,238
(Approx.)

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

Thomas A. Donovan
Managing Director - Queens & Long Island, Partner
(718) 275-3400 x 2626
tdonovan@masseyknakal.com

Eugene Kim
Director of Sales
(718) 275-3400 x 2618
ekim@masseyknakal.com

Tommy C. Lin
Director of Sales
(718) 275-3400 x 2609
tlin@masseyknakal.com


Property Images

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Property Map


Aerial View


Tax Map

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The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.