Price Per SF
$142
Gross SQFT
15,185
Leasable Area
75,925 SF
Property Type
Apartments
INVESTMENT HIGHLIGHTS
- Block-Through Development Site: Three tax lots with frontage on both E 18th & E 19th Streets totaling 15,185 square feet of land.
- Density & Scale: The assemblage totals 60,740 buildable SF as-of-right, or 75,925 buildable square feet with City of Yes bonus.
- City of Yes: The newly enacted zoning policy provides a number of significant advantages, including but not limited to:
- FAR increase from 4.00 to 5.00
- Rear yard setbacks reduced from 30 feet to 20 feet and side yard reduced from 8 feet to 5 feet, allowing for an expanded building envelope and more efficient layouts.
- Parking is no longer required, resulting in significantly lower construction / excavation costs and greater potential for a residential lobby.
- Maximum building height increased from 80 feet to 115 feet, allowing for a higher density build.
- Recreation area bonus increased, now allowing for up to 5% of floor area to be deducted, with potential for top floor / rooftop amenity space, with outstanding views of the NYC skyline.
- Accessibility: Within 3 blocks of the Q train at the Avenue M station, with access to Atlantic Terminal within 20 minutes, or Union Square within 35 minutes.
- Neighborhood Amenities: Property is in close proximity to countless retail and dining options along Avenues M and J, as well as several community centers, schools and playgrounds
Broker of Record
- Cory Rosenthal
- License No. 10991237833 (NY)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 1600 West End,
Ste. 1500 Nashville, TN 37203