Ridgewood’s sprawling industrial property at 22-20 Myrtle Avenue sold for $22 million on Tuesday, with artist tenants given 60 days to leave. The deal puts longstanding local studios at risk amid changing Queens real estate.

  • Warehouse at 22-20 Myrtle Ave sold for $22 million on June 4.
  • New owner: Redsky Capital, a Brooklyn-based developer.
  • Artist tenants received 60-day eviction notices this week.

Redsky Capital, a Brooklyn-based developer, finalized the purchase of 22-20 Myrtle Avenue on June 4, records show. The 120,000-square-foot warehouse, a recognizable fixture near Forest Avenue and the M train, has for years been home to a warren of art studios and fabrication spaces. According to public filings, Redsky paid $22 million to acquire the site from longtime landlord Irwin Levenson.

Tenants at the building began receiving 60-day vacate notices on Monday, June 10, according to sculptor Liz Morales, who has rented space in the building since 2017. “We knew something was up when the For Sale sign came down, but getting two months to pack up years of work is brutal,” Morales told NYC Pulse. Multiple tenants report plans to stage an open studio day and speak at the Queens Community Board 5 meeting later this month.

Redsky’s principal Ben Bernstein confirmed the purchase but did not comment on future development plans for the site. “We appreciate the creative community in Ridgewood, but this building’s next chapter will be different,” Bernstein said in a brief phone interview Wednesday afternoon. The property is zoned M1-4D, allowing for a mix of light manufacturing and commercial uses, fueling speculation of a possible office or self-storage conversion.

The sale comes as Ridgewood and neighboring Bushwick see continued tension between an influx of real estate investment and the needs of the area’s creative economy. Studios on Myrtle Avenue have long offered below-market rents for working artists, with monthly rates averaging $900 for 200 square feet. With limited options nearby, many tenants worry they will be priced out of western Queens.

Frequently Asked Questions

Who bought the 22-20 Myrtle Avenue warehouse and for how much?

Redsky Capital, a Brooklyn-based development firm, purchased the 120,000-square-foot warehouse at 22-20 Myrtle Avenue in Ridgewood for $22 million on June 4, 2024. The seller was longtime owner Irwin Levenson, per city records.

What will happen to the current art studio tenants?

Dozens of artists and makers received formal 60-day notices to vacate this week. Many are scrambling to find alternative studio spaces as the building changes hands. Some plan to organize protests or seek support from local officials.

What are the potential plans for the building after the sale?

Redsky Capital has not yet announced concrete redevelopment plans for 22-20 Myrtle Ave. The site is zoned M1-4D, allowing light manufacturing and commercial activity. Locals speculate possible office, storage, or tech uses may be in the works.

Frequently Asked Questions

Who bought the 22-20 Myrtle Avenue warehouse in Ridgewood?

Redsky Capital, a Brooklyn-based developer, bought the 22-20 Myrtle Avenue warehouse.

How much did the 22-20 Myrtle Avenue warehouse sell for?

The warehouse sold for $22 million on June 4, 2024.

What is happening to the artist tenants at 22-20 Myrtle Avenue?

Artist tenants received 60-day eviction notices and must vacate the building as a result of the sale.

What are the possible future uses for the 22-20 Myrtle Avenue property?

The property is zoned M1-4D, allowing light manufacturing and commercial uses, with locals speculating possible office or self-storage conversion.

How much did artists pay for studio space at 22-20 Myrtle Avenue?

Artists paid monthly rates averaging $900 for 200 square feet of studio space.

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