A three-story, six-family apartment building sandwiched between two landmark districts in Ridgewood was recently sold for $2.65 million.
The property, which is a six-family home, is located at 59-23 Woodbine St. and is directly across the street from Ridgewood’s Central Historic District, which ends on the south side of Woodbine Street. It is also relatively close to the Ridgewood North Historic District.
Although the outside of the building remains intact, the entire building was recently gut renovated and has separate boiler and hot water tanks for each of its six units. There’s also a common laundry area with a gym/recreational space on the lower level.
The approximately 4,772-square-foot property is one of Ridgewood’s many “Mathews Flats” apartment houses which were built in the early 20th century by architect Gustave Mathews as an alternative to the cramped tenement-style apartments of Manhattan. The neighboring Ridgewood North historic district includes more than 90 of these buildings, preserving the exterior of the golden brickfaced structures.
It’s located within walking distance of I.S. 93 as well as the Ridgewood public library and the Forest Avenue M train station. The portion of the M line running through Ridgewood is currently out of service due to repairs, but shuttle train service will be restored to the line in September.
The six units in the building are expected to bring in an estimated $193,524 in annual rent for the new owner, according to Greiner-Maltz Investment Properties, which handled the deal.
