By, Thomas A. Donovan, Massey Knakal Realty Services
Transformation is under way in the Queens neighborhood of Ridgewood. As young professionals continue to get priced out of nearby areas they are rediscovering Ridgewood as a more economical alternative. This uptick in demand for housing in this supply constrained market is leading to rising rents and higher per unit sale prices for multifamily investors.
Much of the neighborhood’s well-maintained housing stock consists of higher density, brick six-family buildings located near the Ridgewood-Bushwick border and lower density homes located deeper into Queens. Recently, the NYC Landmarks Preservation Commission unanimously approved the designation of the Central Ridgewood Historic District, which comprises 990 buildings, consisting mostly of brick row houses. This new district represents one of the most harmonious and architecturally-notable enclaves of working-class dwellings built in New York City during the early twentieth century.
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Neighborhoods: Ridgewood