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ID: 1297
FIVE LOT DEVELOPMENT SITE PACKAGE FOR SALE
128’ WIDE BLOCK THROUGH DEVELOPMENT SITE FOR SALE
PRIME DEVELOPMENT OPPORTUNITY

manhattan lower east side steps from little italy!

Lot Size: 79’ x 100’ 87-91 Madison St, 128’ x 100’ 34-42 Henry Street
Lot Square Footage: 20,700
Zoning: (FAR) R7-2 (3.44)
Total Buildable Square Feet: 71,208 (with community facility its 134,550 with a FAR of 6.5) Height limit 80’
Real Estate Taxes: $276,978.96
Description:

a total of 71,208 square feet of buildable air rights for residential development. A property of 134,550 square feet can also be built and would include community facility and residential units.

The lot is in a neighborhood that is undergoing lots of development with new hotels and condo buildings. The height limit for new developments in the area is 80’ which will give the upper floors great views of the East River and both Brooklyn and Manhattan Bridges. The zoning allows for a residential building to be built. The project would be great for a building with luxury residential condos or rental apartments.

The property is close to the F train on East Broadway and Rutgers Street which also has fine retail stores. Close to both Manhattan and Brooklyn Bridges and FDR Drive. The property is rented to a garage company which is paying $10,000 per month and they are on a month-to-month basis.

THE TOTAL BUILDABLE FOR ALL FIVE SITES IS 71,208 SQUARE FEET. THE PROPERTIES MUST BE SOLD AS A PACKAGE.
ASKING PRICE: $46,500,000.00 $653 PER BUILDABLE SQUARE FEET

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ga seller financing 400+ units (3635)
near westchester ny 450+ units offer over 250m considered (3590)
miami 400+ units assumable loan (3271)
oklahoma seller fiance over 160 units (3582)
tampa 290+ units assumable loan (2732)

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phoenix 170+ units cash offer (3849)
huntington indiana shopping center over 11% cap (3647)
levittown ny shopping center 6+% cap (3647)
farmingdale ny shopping center 5+% cap(3647)


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patchogue ny 15+ store shopping center cap approx 6%(3649)
reiserstown maryland shopping center cap approx 8% (3649)
new port richey florida shopping center cap approx 5%(3649)

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west islip ny shopping center cap 4% (3649)
wintersville ohio shopping center cap 5% (3649)
ware massachussetts shopping center cap approx 5.5%(3649)

seller may finance all with 50% down!

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