NEW YORK CITY-An East Village stretch of land that has gone up for sale has the potential to completely transform 14th St. A 10,106-square-foot corner parcel in the East Village is now being marketed for sale, announced Avison Young, which has been retained as the exclusive sales agent.
Currently occupied by a one-story building, the site can accommodate an as-of-right project with 65,689 square feet 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 is potentially 70,000 square feet 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, says Avison Young. 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.
“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,” says Helman. “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.”
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Rayna Katz
Rayna Katz is a seasoned business journalist whose extensive experience includes coverage of the lodging sector, travel and the culinary space. She was most recently content director for a business-to-business publisher, overseeing four publications. While at Meeting News, a travel trade publication, she received a Best Reporting award for a story on meeting cancellations in New Orleans during Hurricane Katrina.
