(To read more on the multifamily market, click here.)

NEW YORK CITY-Carrying an $8.2-million price tag, a nearly 20-foot wide piece of land has hit the market. The space at 304 Fifth Ave. is 100 feet deep and comes with plans already in place for a 15-story mixed-use condominium building.

Massay Knakal Realty Services has been tapped to market the property, with director of sales Brock Emmetsberger and CEO John Ciraulo leading the sale. A Massey Knakal spokeswoman declined to identify the seller or the reasons for selling. She tells GlobeSt.com there is no set timeline for selling the property.

304 Fifth Ave. is between East 31st and East 32nd streets in the Madison Square North neighborhood. Completed plans for the site call for a 15-story building under the as-of right buildable area of approximately 19,920 sf, according to Massey Knakal. The plans outline a building featuring ground-floor retail, commercial space on the second through fourth floors and condos on the fifth through 15th floors. A duplex penthouse is penciled for the 14th and 15th floors.

"Opportunities to build on Fifth Avenue are always rare," Emmetsberger says in a statement. "With plans in place, developers will have significant savings in both time and soft costs."

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