Overview
BKREA has been retained on an exclusive basis to arrange for the sale of 4-10 East 30 Street (“The Site”), an extraordinary mixed-use development opportunity in the thriving NoMad neighborhood of Manhattan. The site is located on the south side of East 30th Street between Fifth and Madison Avenues and benefits from an impressive 132.5’ of frontage and a depth of 98.75'. In its current state, Lots 81 and 83 are both 5 story mixed-use buildings, and Lot 77 is a parking garage, all of which will be delivered vacant. Given the nature of the existing garage, there is already a curb cut in place, providing time and cost savings, as well as vehicle accessibility. Furthermore, given the low-rise nature of the landmarked church to the south (see page 5 for rendering), a future development will benefit from phenomenal light and air, even on the lower floors facing south — which is typically not the case for mid-block development sites.
Investment Highlights
- Flexible Zoning Opportunity: Due to the C5-2 zoning district, 4-10 East 30 Street is permitted to have residential, office, hotel, retail, and community facility uses. Additionally, the location makes any combination of these uses highly desirable.
- Significant Frontage: The generous frontage of 132.5 feet on the south side of East 30 Street enables the creation of efficient floorplates
- Ability to Utilize Offsite UAP Certificates: Due to the R10 overlay, a developer will have the opportunity to purchase offsite UAP Certificates. This benefits the development by allowing the developer to build additional market-rate residential floor area while also reducing their cost basis. BKREA is currently selling these air rights separately.
- Curb Cut Access: Given the nature of the existing garage, there is already a curb cut in place, providing time and cost savings, as well as vehicle accessibility.
- Vacant Possession: The site will be delivered allowing for immediate demolition.
- Prime NoMad Location: NoMad offers immediate access to major employment centers and the finest residential amenities that New York City has to offer.
- Convenient Accessibility: The site a 5-minute walk from the R & W at 28 Street & Broadway and 5-minute walk from 28 Street & Park Ave for the 6 train allowing connectivity throughout the city.
- Potential for Additional Air Rights: City of Yes passing created tremendous flexibility with landmarks transferring their air rights. There are 4 landmark properties that could potentially transfer their air rights. For further details please reach out to us.
- Phenomenal Light & Air: Directly behind the development site is a landmarked church, allowing significant light and air for a midblock site due to the low rise nature of the landmarked church to the south.