$2,500,000
Updated 9 months ago
Off Market

1702 Palmetto Street

Ridgewood, Queens | Cypress Ave & Seneca Ave

20 Rooms10 Beds5 Baths4,800 Square FeetMixed Use

$2,500,000
floors / apts3 / 5
Lot Size20'x100'
Built Size20'x80'
ZoneR6B
Building TypeLow-Rise
RE Taxes$21,189
Price Per SF
$521

Outdoor space and views

  • South Exposure
  • West Exposure
  • City Views

Building Amenities

  • Elevator

Property Description for 1702 Palmetto Street

Prime Ridgewood: Mixed-Use Building Value-Add Investment Opportunity All Units Free Market

This is a rare opportunity to acquire a prime mixed-use building located in the heart of Ridgewood (Voted #1 Hottest neighborhoods for 2025 by Time Out), ideally positioned between two subway stations (L & M lines). This corner property presents substantial value-add potential, with all units being free market with one unit currently vacant.

The building offers significant upside in rental income with opportunities to improve the existing layout. The commercial tenant is currently on a month-to-month lease.

With convenient access to Manhattan via the L & M subway lines, this property is highly desirable for residential tenants. The buildings location and characteristics make it an excellent investment for those seeking strong future returns.

Key Details:

Lot Dimensions: 20 100 Zoning: R6B Building Class: S5 Total Square Feet: 4,800 sq ft Taxes: $20,526
For further information or to schedule a viewing, please contact Jamie_Ng.

Listing History for 1702 Palmetto Street

Now
10/31/2025
POM by Jamie Ng
FIND Real Estate
02/21/2025
$2,500,000
Initial Price by Jamie Ng
Spire Group

Building Details for 1702 Palmetto Street

OwnershipMixed Use
Building TypeLow-Rise
AgePre-War
Year Built1930
Floors/Apts3/5
Learn More About the Building

Contact Agent

Contact Agent

Jamie Ng
FIND Real Estate

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: 99328TH