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Former Riccardo’s by the Bridge Site Sells for $6.4 Million, Residential Development Likely

The property that was the long-time home of Riccardo’s by the Bridge has sold (Photo: Christina Santucci)

Jan. 12, 2021 By Christina Santucci

The site of the famed Astoria catering hall Riccardo’s by the Bridge has been sold for $6.4 million, according to Alexander Pereira, a real estate broker with Douglas Elliman.

The deal closed on Dec. 30, Pereira said, less than three months since the banquet hall shut down.

“It was probably one of the fastest land deals I have ever done–30 days,” Pereira, who brokered the deal, said.

The name of the buyer of the property, located at 21-01 24th Avenue, has not yet been announced. Public records of the transaction are not yet available.

However, the new owner also purchased a much smaller adjacent site at 23-91 21st Street, which had previously been used as the kitchen for Riccardo’s.

The buyer hopes to develop both parcels as a residential and retail development, Pereira said. The 24th Avenue lot is approximately 13,000 square feet, while the smaller 21st Street property is about 2,600 square feet.

“The location is incredible. The development will have views of the bridge. Obviously, it’s very close to the waterfront and Astoria Park,” Pereira said.

A listing on Douglas Elliman’s site advertised the 21-01 24th Ave. property as having nearly 26,000 buildable square feet and “ripe for condo or rental development.”

“It was an incredible experience working on this particular property,” Pereira said. “Obviously it’s a historic site with a lot of history.”

In September, Anthony Corbisiero, president of Riccardo’s by the Bridge, posted a note on the catering hall’s website and social media announcing the hall’s closure.

Founded by Richard Corbisiero, Sr., in 1951, Riccardo’s had been a fixture in the neighborhood for decades and family-owned throughout its nearly 70-year run.

Legendary crooner Tony Bennett once worked as a singing waiter at Riccardo’s, according to its site.

“This decision [to close] has been extremely difficult to make, and is solely due to the various impacts of the COVID pandemic; if it were up to us we would cater your special events forever,” Anthony Corbisiero wrote in his note, entitled “Thanks for the Memories.”

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