Alex Adjmi pays $4.9M to Cedot Realty for mixed-use building in Ridgewood

Alex Adjmi’s ACHS Management Corp. through the entity 6817 Bay Parkway LLC paid $4.9 million to Cedot Realty in care of Rosedale Management, for the mixed-use building (K2) at 57-23 Myrtle Avenue in Ridgewood, Queens.
The deal closed on June 15, 2021 and was recorded on June 28, 2021.
The property has 18,658 square feet of built space and 21,016 square feet of additional air rights for a total buildable of 39,654 square feet according to PincusCo analysis of city data. The sale price per built square foot is $262 and the price per buildable square foot is $123 per the PincusCo analysis.
The signatory for Rosedale Management Company was Barry Aronowsky. The signatory for ACHS Management Corp. was Marcus Adjmi.

Within a 400-foot radius of 57-23 Myrtle Avenue, PincusCo identified three commercial real estate items of interests occurred over the past 24 months.
Of those three items, two were for major renovation including a certificate of occupancy change. They were one permit applications with a total initial cost of $250,000 and one initial temporary certificate of occupancy issuance for a project that initially costed $1.3 million. The most recent of these two items was the filing on March 25, 2020 for a 5,680-square-foot M building with two residential units at 918 Seneca Avenue.
One of those three items was a loan which Fereidoon Behin borrowed $7.5 million from Readycap Commercial, LLC secured by the 4,000-square-foot, three-unit mixed-use building (S2) on 56-54 Myrtle Avenue and three other properties on January 4, 2021.

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