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    16-16 Putnam Ave Ridgewood, NY 11385

    Sponsored
    For Sale
    Pending
    $1,599,900

    MULTI_FAMILY - Ridgewood, NY

    Lot size:
    0.05 Acres
    Days on Market:
    31
    Last Refresh:
    Feb 27 at 10:06 pm

    Property Features for 16-16 Putnam Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Pending
    Window features
    Skylight(s)
    Rooms
    Bathroom 1, Bedroom 5, Bathroom 2, Bedroom 1, Bedroom 4, Bedroom 3, Bathroom 3, Bedroom 2
    Bedrooms
    5
    Bathrooms
    3
    APN
    03546-0015
    Parking features
    Open
    Interior features
    Eat-in Kitchen
    Basement
    Unfinished
    Lot size
    0.05 Acres

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Heating system
    Natural Gas
    Cooling system
    Wall/Window Unit(s), Window Unit(s)
    Water source
    Public

    Building Details

    Year built
    1910
    Number of units
    2
    Flooring type
    Hardwood, Carpet
    Building materials
    Brick

    We can help!

    Listing Contact
    Christopher L. Espinal
    Christopher L. Espinal

    Douglas Elliman Real Estate

    Listing agent Christopher L. Espinal (917) 945-5418

    Listing date Jan 28, 2026

    MLS# 944092 Listing URL

    Copyright © 2026 OneKey MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Restored Two-Family Townhouse in Ridgewood

    This meticulously restored, brick attached two-family home is located in the heart of Ridgewood. The property blends historic architectural integrity with modern upgrades. Exterior upgrades include a new roof, new skylight, solar panels, restored parapet, newly painted/restored cornice, new windows front and rear, and a restored original front door with original hardware. The home showcases original woodwork and period detail. The entry vestibule has been restored with new tile, while the original newel post, staircase, and lincrusta remain. The first-floor unit offers a two-bedroom layout with original hardwood floors, original pocket doors, five panel wooden doors and original molding. This unit includes a renovated bathroom plus an additional half bath, and a renovated kitchen featuring melamine countertops, an oversized farmhouse sink, tin ceiling, restored original cabinetry and shelving paired with modern cabinetry, new stainless steel appliances, dishwasher, and in-unit washer and dryer. A newly installed mini-split system provides heating and cooling. The kitchen opens to the rear Ipe deck and a spacious grass backyard. The second-floor unit features three bedrooms and one bathroom, a living room with a coffered ceiling, original five-panel doors, a tin-ceiling kitchen with renovated finishes, quartz counter tops, stainless steel appliances (including dishwasher), updated kitchen cabinetry, and original built-in storage in the dining room. The front facing master bedroom has an original pier mirror with intact molding and access to a small office or nursery. The bathroom has undergone complete renovation and all of the plumbing on this floor was replaced recently. Hardwood floors on this level were replaced and installed with sound-dampening underlayment, and the unit is equipped with individualized mini-split systems. The unfinished basement offers 9-foot ceilings and full front-to-rear access. Recent improvements include a new hot water heater and a main water line replacement. This property is close to public transportation and local dining and shopping.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    16dash16 LLC Industrial Manufacturer

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Ridgewood
    County
    Queens
    State
    New York
    Longitude
    -73.908143
    Latitude
    40.698519

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    FAQs

    What type of property is this?
    Duplex - Meticulously restored brick two-family townhouse in prime Ridgewood.
    Where is this duplex located?
    The property is located at 16-16 Putnam Ave Ridgewood, NY.
    What is the asking price?
    The asking price for this property is $1,599,900.
    What are key features of this property?
    This property features: - Meticulously restored with blend of historic details and modern upgrades, including original woodwork, pocket doors, and restored cabinetry.; - Comprehensive exterior upgrades: new roof, owned solar panels, restored parapet/cornice, new Andersen windows, and restored original front doors.; - Two renovated units: first-floor with 2 bedrooms, Ipe deck, and backyard; second-floor with 3 bedrooms and coffered ceiling.
    (917) 945-5418
    Request Owner's contact information
    16-16 Putnam Ave Ridgewood, NY 11385
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    Ridgewood, NY 11385
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    16-16 Putnam Ave Ridgewood, NY 11385
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    We can help!
    Listing Contact
    Christopher L. Espinal
    Christopher L. Espinal
    Real Estate License ID: 40ES1144459
    (917) 945-5418 (718) 631-8900
    Learn more
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