Avison Young announced that the firm's New York City-based investment sales team has been retained as the exclusive sales agent for 644 East 14th Street in Manhattan. Principals Neil Helman and Charles Kingsley, who are both members of Avison Young's Capital Markets Group, are leading the assignment on behalf of the site's owner.
The 10,106 s/f corner parcel in the East Village is currently occupied by a one-story building. The site can accommodate an as-of-right project with 65,689 s/f for a mixed-use development including residential, retail and community facility space. The property is enhanced by more than 200 feet of frontage on 14th Street and Avenue C, making it easy to create separate entrances for different uses if desired.
In addition, there are potentially 70,000 s/f of unutilized development rights from the properties directly to the west of the parcel that, with a zoning lot merger, can be incorporated onto the site.
"Well poised for redevelopment, this corner lot is ideally suited for a multitude of uses, including residential (condos or rentals), retail, and community facility use, including dormitories for student housing, making this a great opportunity for schools and other non-profit institutions," said Helman. "The diverse and exciting East Village setting is easily accessible to both Union Square and neighboring parks including East River, Tompkins Square and Stuyvesant Square. The location on two wide streets with virtually no restrictions on height limitations is also highly advantageous, enabling a tower to be erected, which would take advantage of the great East River views."
Located at the southeast corner of 14th Street and Avenue C directly across from Stuyvesant Town/Peter Cooper Village, the site has excellent accessibility via several bus lines across the street, as well as the L subway line. Tags: