Ridgewood Warehouse Sells for $4.7 Million

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    A building near the Bushwick/Ridgewood border, at 16-14 Madison Street, just hit public records. The property sold to the entity “Madison Partners LLC” for $4,700,000. We don’t know much about the buyer except that the company’s based in Manhattan. According to PropertyShark, the lot is a total of 11,990 square feet. The property is built up to a FAR of about 1; zoning allows a development three times larger. It’s also zoned for commercial use. Think a commercial transformation is in this building’s future? The building is near the main drags of both Myrtle and Wyckoff avenues. GMAP UPDATE: We have updated the picture of the building in question. The sale was for the post office, not the red warehouse next door.

    Photo via Google Maps

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