The subject property is a 24.69' x 100' corner development site offering 12,345 buildable s/f as-of-right within C6-3 zoning and a 5.0 base F.A.R. The existing building consists of a ground floor deli and six residential units, and the property was delivered vacant at the time of closing.
The property was sold to a local investor, who offered the most attractive price and terms, after Corbin had presented the seller with over 30 written offers. "In a lesser Manhattan location, this property would've been worth around $5 million," said Corbin. "The fervor for anything by the High Line continues, even at the northernmost section," he added. "With sellout pricing for high-end new construction in the $2,500 to $3,500 per s/f range, the area has become one of the most coveted for development in all of New York City."
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