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

Massey Knakal Retained Exclusively To Sell Corner Development Site In West Village

07/11/2013

Massey Knakal Realty Services has been retained on an exclusive basis to sell a development site at 71 Fourth Avenue(aka 71 Park Avenue South) and 82 East 10th Street. The property is located on the corner of Fourth Avenue and East 10th Street in Manhattan’s Greenwich Village neighborhood. The asking price is $24,000,000.

The site currently consists of two separate buildings sitting on a 48.4’ x 119.1’ irregular lot.  Both properties can be delivered vacant to allow for future development, but are also available for lease.  The site is zoned C6-2A and has a base FAR of 6.02, making it suitable for approximately 25,572 square feet as-of-right.  Plans exist for a nine-story mixed-use building containing 22,507 square feet, with eight floor-through apartments and a bi-level retail space with double height ceilings.  The space provides an exceptional corner retail opportunity with approximately 48.4 feet of frontage on Fourth Avenue and 111.9 feet on East 10th Street. 

The continued strength of the residential and retail markets coupled with the lack of development sites for sale in the area make this a rare opportunity to acquire a corner development site in one of the city’s most coveted neighborhoods.

For more information on this listing, contact Massey Knakal Partner James P. Nelson or Director of Sales Mitchell Levine at 212.696.2500.

Massey Knakal specializes in the sale of investment and user properties in the New York Metropolitan area. Since 1988, our agents have closed over 4,500 transactions having a market value in excess of $17 billion.

www.masseyknakal.com

 

07/10/2013 - 16:55

Source

Cushman & Wakefield Capital Markets Group New York

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