GFI Markets MXU on Brooklyn/Queens Border January 11, 2019

Connect Media | December 10, 2018

GFI Realty Services is listing 1070 Cypress Ave., a mixed-use multifamily and retail building on the border of Bushwick, Brooklyn and Ridgewood, Queens. The firm’s Yehoshua Shamel will oversee marketing, with pricing targeted at $1.675 million.

Constructed in 1931, the two-story building totals approximately 2,720 square feet, with three apartments and a ground-floor commercial space. The apartments are configured as two large two-bedroom units and one three-bedroom unit. The commercial tenant’s lease expires in 2023.

“Bushwick and Ridgewood continue to be prime destinations for tenants who are priced out of more expensive sections of Brooklyn and Queens and are seeking affordable rents and dynamic neighborhoods,” said Shamel. “Both submarkets benefit from an influx of residents seeking a ‘neighborhood’ feel and easy access to Manhattan via mass transit.”

In recent years, both Bushwick and Ridgewood have seen an increase in commercial leasing activity along the Myrtle and Wycoff Avenue corridors.

 

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