Overview
BKREA has been retained on an exclusive basis to arrange for the sale of 10 West 17th Street (“The Site”), a remarkable residential development opportunity in the Flatiron neighborhood of Manhattan. The site is located on the south side of West 17th Street between Fifth Avenue and Avenue of the Americas (aka Sixth Avenue). This boutique development has been fully demolished and features lot dimensions of 45’ x 92’.
The 4,140 square-foot lot is located within the C6-4A (R10A equivalent), zoning district, allowing for an as-ofright FAR of 10 for either residential or commercial uses, which translates to an as-of-right ZFA of 41,400 square feet. The offering is being delivered with proposed plans prepared by the prominent DXA Studio that call for 41,290 ZFA, 23 units across 18 stories. Current ownership has gathered a full set of CDs, and has LPC Landmarks approval. All information regarding these plans is readily available in the data room.
Investment Highlights
- Full Set of DOB Approved Plans: Current ownership has maintained a full set of approved plans developed by DXA Studio, which have received LPC approval. Please review the information in the data room to understand the remaining requirements for obtaining full application approval.
- Boutique Development: 10 West 17th Street is an ideal opportunity for a first-time developer entering the competitive New York City market due to its small-scale nature.
- Vacant Possession: The site is currently demolished, creating a fully vacant development site. This enables prospective purchases with time and cost savings.
- Phenomenal Flatiron Location: 10 West 17th Street is perfectly situated in the Flatiron neighborhood allowing developers to benefit from the unparalleled demand drivers.
- Convenient Accessibility: The site is within walking distance of 14th Street-6th Avenue and 14th Street-Union Square subway stations allowing travel throughout the city.
