$1,650,000
Updated 5 years ago
Off Market

1878 Madison Street

Ridgewood, Queens | Onderdonk Ave & Woodward Ave

5,310 Square FeetIncome Property

$1,650,000
floors / apts3 / 6
Lot Size27'4"x100'
Built Size27'4"x69'
ZoneR6B
Building TypeTownhouse
RE Taxes$14,606
Price Per SF
$311

Property Description for 1878 Madison Street

INVICTUS Property Advisors has been retained on an exclusive basis for the sale of 1878 Madison Street. The subject property is located on the east side of Madison Street between Woodward and Onderdonk Avenues. One (1) of the six (6) units is vacant and the rent for that apartment can be increased to $2600/month. An investor can also realize potential upside with respect to unit 3R as there is a delta of $200 between the preferential and legal rents. The future owner will also benefit from the property falling into tax class 2A where tax increases are capped year to year and over a five (5) year period. 1878 Madison Street is a block away from the M train at Forest Avenue and two (2) blocks away from the M train at Seneca Avenue. Ridgewood has great appeal to renters who want to live in close proximity to Bushwick's nightlife, with charming brick rowhouses that give the submarket its distinct character. The neighborhood is child-friendly and safe with the Ridgewood public library, Rosemary's playground and International School 96 Ridgewood in close proximity. The building is surrounded by national retailers such as TD and Citi Bank, Taco Bell, Rite Aid, Domino's, as well as local favorites such as Lucy's Vietnamese, Paloma's, and Topos, among others.

Listing History for 1878 Madison Street

Now
05/14/2021
POM by Josh Lipton
Invictus Property Advisors
2021

Building Details for 1878 Madison Street

OwnershipIncome Property
Building TypeTownhouse
AgePre-War
AccessWalk-up
Year Built1930
Floors/Apts3/6
Learn More About the Building

Transit and Citi Bike

Subway

Forest Av
0.08 miles
Seneca Av
0.19 miles
Myrtle-Wyckoff Avs
0.47 miles
Fresh Pond Rd
0.47 miles

Citi Bike

Madison St & Woodward Ave
0.03 miles
Madison St & Seneca Ave
0.16 miles

Contact Agents

Contact Agents

Josh Lipton
Invictus Property Advisors
Andrew Levine
Invictus Property Advisors
Brian Krakower
Invictus Property Advisors

Ridgewood | Queens

Quick Profile

Unique for being a symbolic and literal bridge between Brooklyn and Queens, Ridgewood incorporates both distinct elements of these boroughs into its persona. Originally considered part of Brooklyn, the neighborhood broke off with Bushwick in the 1700s at a point called, appropriately, Arbitration Rock. When the blackout of 1977 occurred, the residents of Ridgewood only further wanted to dissociate themselves from their Bushwick neighbors as the bedlam that ensued in between the looting and the riots made them feel just a tad superior. 

And yet, just because its zip code changed didn’t mean Ridgewood could ever fully break free from its proximity and entwined identity with Bushwick. Pegged as the next “it” destination and hipster haven to move to circa 2016, Ridgewood has surprised many with its steady pace of growth, therefore well-maintained “neighborhood” feel. 

Rife with quiet blocks filled with quaint, colorful buildings, Ridgewood offers the bodegas and local businesses one also expects of “old world” Brooklyn. An increase in the number of coffee shops, bars and DIY venues have continued its natural association with Bushwick, however, the deeper into the neighborhood you go, the more apparent it becomes that Ridgewood is very much its own very Queensian thing. 

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 78472TH