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Commercial



MANHATTAN CMM140905
The Building is a prime development site located on the East side of Bowery between Grand and Broome Streets. The property was recently demolished and the foundation for the new development has recently been installed. There are DOB approved plans and permits issued for a 20,427SF building (including cellar), consisting of an 8 story commercial loft building with retail on the ground floor. The Bowery was recently added to the State Register of Historic Places, an important step towards being added to the National Register of Historic Places. Both lists indicate the likelihood of the Bowery's future Landmarking and potentially being designated a historic district, which will have no effection the current development but will limit the development of the surrounding buildings. ICAP tax benefits have been applied for and the New York City Department of Finance has verified that the application is approved. The property will receive an annual abatement of approximately $72,000 over a 10-year period starting in mid 2013. The development of this property would be ideal for a commercial user, non-profit institution or investor.

Broker - John Yu
(212) 349-6800

Click To Enlarge

Commercial - Basic Features
List Price: $12,000,000   List Date: 09/05/2014   Lot Size: 25 x 100  
Bowery
Manhattan, NY
10002
Sq Ft: 20,427   Status: Active  
Zoning: C6-1G  
Building Size: 25 x 100   Retail SF: 2,500   Story: 8  

Feature Details
Lot SF: 2,500   Basement: Yes   Elevator: Yes  
Year Built: 2015       

Additional Information
Delivery Vacant. Owner Finance.