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Daryl Hagler buys Ridgewood mixed-use tower for $75.8 million
The 252,850-square-foot project is planned to include 133 residential units and a retail component, with apartments still unoccupied despite a Burlington store opening this month.
Commercial Observer reports that real estate investor Daryl Hagler signed on to take over the under-construction mixed-use tower at 3-50 St. Nicholas Avenue in Ridgewood, Queens.
According to city records, the development changed hands Tuesday for $75.8 million in cash, with entities tied to troubled developer Arch Companies and Meir Babaev's AB Capstone conveying the project to Hagler’s CDK 3-50 St. Nicholas.
The tower spans 252,850 square feet and is slated to include 133 residential units and a large retail component, and a Burlington location opened at the site earlier this month, though the apartments remain unoccupied, Commercial Observer said.
The outlet added that Toronto-based investor Kevin Wiener, whose family office 35 Oak Holdings previously partnered with Arch and AB Capstone, signed for the seller entities.