Ridgewood Warehouse Sells for $4.7 Million

16-14 Madison Street-ridgewood

A building near the Bushwick/Ridgewood border, at 16-14 Madison Street, just hit public records. The property sold to the entity “Madison Partners LLC” for $4,700,000. We don’t know much about the buyer except that the company’s based in Manhattan. According to PropertyShark, the lot is a total of 11,990 square feet. The property is built up to a FAR of about 1; zoning allows a development three times larger. It’s also zoned for commercial use. Think a commercial transformation is in this building’s future? The building is near the main drags of both Myrtle and Wyckoff avenues. GMAP UPDATE: We have updated the picture of the building in question. The sale was for the post office, not the red warehouse next door.

Photo via Google Maps

3 Comment

  • You have the wrong parcel there. You linked to 16-26 Madison Street. 16-14 Madison Street is actually under 16-20 Madison Street and is the old post office next to the red warehouses. Here’s a link to the correct Property Shark info: http://www.propertyshark.com/mason/Property/445214/1620-Madison-St-Queens-NY-11385/

  • It’s coming people. Can’t stop it. Ridgewood prepare yourselves for gentrification

    • Definition of gentrification taken directly from the dictionary – the restoration of run-down urban areas by the middle class (resulting in the displacement of low-income residents.

      Gentrification is what is happening currently along the East Williamsburg edges of Bushwick, Bed-stuy and other areas of Brooklyn such as Crown Heights, Prospect Heights and is what happened with areas like Williamsburg, South Williamsburg and East Williamsburg among the other numerous Manhattan areas…

      What is happening to Ridgewood is the reversal or if you want to call it hipsterfication that is somewhat appropriate though the numbers still indicate that these investments are much ado about nothing. Realtors are trying to recreate the so-called magic that happened in Williamsburg when the reality that is something that will never happen again to any other neighborhood in Brooklyn. The setup was perfect. Ideal location with immediate access to Manhattan, run down area that isn’t dominated by any specific group, industrial area that allowed for redevelopment and more importantly, nothing even remotely similar to what happened with this area had occurred previously…

      This was and is not the case for any other neighborhood in Brooklyn and Queens and therefore this obsession to bring these spoiled useless adult children to these areas in favor of hard-working diverse working middle class families will only go so far. Granted, there will definitely be some spillover from the Bushwick/East Williamsburg areas as we are seeing right now in certain pockets of Ridgewood…

      That being said, I highly doubt this fabricated and overblown hype will ever materialize to a significant point in Ridgewood.

      And for those morons and slanted websites like curbed, gothamist, and the times that continue to describe the global size exaggerations of change to Ridgewood as gentrification please re-read the first statement in this comment to get a full understanding of what gentrification really is…

      Again, as I stated previously, the reality is that the opposite is what is actually happening. Hard working middle class folk are being pushed out due to insane rents and inflated mortgage prices thanks in large part to the oblivious, non-sensical hipsters that have no concept of reality or market rate and shack up 8 to an apartment to pay $300 a month each for a $2400 a month roach and bedbug infested 1-2 bedroom apartment that under normal circumstances any sane human being would realize can only go for about half of that asking price.

      It’s what is currently happening next door to me. I live on a quiet tree-lined block near the Maspeth border and my previous next door neighbors were a hard working Hispanic family who worked morning through night and never caused any problems and were paying 1800 for a large three bedroom. However, they had to move out when the owner decided to make minor renovations and in one shot asked for a 700 increase. Once they moved out, in came the filthy, weed-smoking, bed-bug creating, loud classless open window sex having hipsters who keep us up constantly with their idiocies that they can get away with because they are the only ones to live under squalid conditions and pay ridiculous prices for since in most cases, they are not the ones footing the bill…