Monday, July 11, 2011

$13.2M foreclosure in Ridgewood


I was researching a property in Ridgewood (71-13 60 Lane) and stumbled upon a Queens Crap article about the new development happening on the site. Thought you might be interested to know that the property is scheduled for a foreclosure auction on August 5th. The lien amount is $13,201,472 (see section A5 from the property report).


Calin Onet
Marketing Analyst

Thank you, Calin. Well now this comes as no surprise. Here's an earlier post from when the owner went before the BSA to beg for a variance.

Let's take a look back at some of the comments left by real estate lackeys on the 2009 post:

GO DEVELOPERS!! Stick it to these crazy NIMBYS!! This building is great news for Ridgewood.

Yes, I can see how.

Building should enhance neighborhood if the end product is pretty and the owner will sell condos at a decent rate. Let’s wait until they begin marketing to see if they know what they are doing. Until then...contain your crap within....

I may explode waiting for this to happen!


Anonymous said...

How many apartments are in that building for it to be worth anywhere close to 13 million? Something doesn't add up.

Queens Crapper said...

55 according to their permits.

Anonymous said...

Estimated total cost was listed at 1.285 million. Where did the other 11+ million go?

55 units??? How high were they going to build this thing? Trying to read that application makes my head spin.

Anonymous said...

Found it, proposed 4 stories and 55 apts? What were they building, an SRO?