Leopold Kaufman through the entity Hancock Ave Residence LLC paid Avimo Realty Corp. $9.3 million for 56-40 Myrtle Avenue, 56-42 Myrtle Avenue, 17-11 Hancock Street in Ridgewood. The deal closed on October 29, 2019, and was recorded on November 6, 2019. The transaction consists of 3 parcels, including the tax class one-story store building (K1). The parcel(s) have total development potential of 45,254 square feet.
The average sale price per square foot is $206.
The estimated cap rate is 2.8%
Clarification: The identification of the seller has been limited to Avimo Realty Corp.