Corner Lot in Ridgewood Sells for $1.5 Million $1.2 Million

The 4,829-square-foot building (currently a medical office) on the northwest corner of St. Nicholas Avenue and Palmetto Street just sold for $1,500,000 $1,200,000. The structure will be delivered vacant to the buyer, and our guess is that it may be demolished — the lot comes with 9,658 square feet of development rights.

EPIC Commercial Realty (formerly known as Itzhaki Properties) represented both the buyer and seller. According to the seller’s broker, “After seeing the value and future potential of the neighborhood, the buyer was willing to pay an above market price for the property.” EPIC is also responsible for this $3,250,000 sale in the neighborhood, on Myrtle Avenue. GMAP UPDATE: Due to an error on the broker’s part, the building actually sold for $1,200,000, not $1,500,000.