Press Release brought to you by Cushman & Wakefield Capital Markets Group New York

Cushman & Wakefield Retained Exclusively to Sell Prime Residential Development Opportunity - Over 180,000 Buildable Square Feet in Hudson Square

06/04/2015

Cushman & Wakefield has been retained on an exclusive basis to sell a prime residential development opportunity at 100 Vandam Street.  The property is located on the corner of Vandam and Greenwich Streets in Manhattan’s Hudson Square.  The asking price is $175,000,000.

The offering is an iconic structure which could be improved upon to offer water views in the heart of the rezoned Hudson Square area.  The site has approximately 64’ of frontage on Greenwiich Street and 150’ on Vandam and the parcel runs approximately 114’ deep.  Additional air rights and inclusionary housing certificates which have been assembled will bring the total buildable for a mixed-use development to 187,221 square feet.  Alternatively, an entirely residential building up to 11.20 FAR could be developed.  Each design could reach approximately 290’ on Greenwich Street, offering exceptional views. 

The site is perfectly situated between SoHo to the east, the West Village to the north, and TriBeCa to the south and its corner location allows for the most ideal layouts.  The Hudson Square neighborhood was recently propelled by a rezoning in 2013, allowing for the creation of a denser, mixed-use district with significantly more residential and retail development.

"A corner site allows for the most ideal layouts. With existing curb cuts, private parking could make 100 Vandam even more desirable to luxury buyers,” said Cushman & Wakefield’s James Nelson, who is exclusively marketing this property with Robert Burton.  “The tower apartments in this magnificent development will have unobstructed western views in perpetuity,” added Burton.

06/04/2015 - 16:30

Source

Cushman & Wakefield Capital Markets Group New York

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