Cushman & Wakefield Retained Exclusively to Sell Conversion or Development Opportunity in NoHo
Cushman & Wakefield has been retained on an exclusive basis to sell a conversion or development opportunity at 25 Bleecker Street. The property is located between Lafayette Street and Bowery in Manhattan’s NoHo East Historic District. Ownership is requesting proposals.
The property currently consists of a vacant four-story, approximately 2,962-square foot building on a 20’ x 68.25’ lot. The building is ripe for conversion as current ownership already has LPC approval for a redesigned façade and mixed-use conversion of the existing square feet. Alternatively, a purchaser could seek to maximize the buildable envelope by seeking a residential variance for a condominium development.
The property is located near condominium development projects 40 Bond Street and 41 Bond Street. It is less than a block from the Bleecker Street subway stop and steps from neighborhood hotspots including Bar Primi, Bianca, and Il Buco. This is a rare opportunity to acquire a vacant building primed for conversion or development in the heart of NoHo.
“With SoHo prices hitting meteoric levels, NoHo has emerged as one of the hottest neighborhoods for retail and residential given its close proximity,” said Cushman & Wakefield’s James Nelson, who is exclusively marketing this property. “25 Bleecker Street will undoubtedly benefit from the numerous luxury projects currently underway and in the pipeline,” Nelson continued.