NEW YORK CITY—A residential development site at 100 Vandam St. has come on the market. Set to be marketed by Cushman & Wakefield, the asking price for the Hudson Square site is $175 million.

Located on the corner of Vandam and Greenwich Streets, the property is an iconic structure that could be improved upon to offer water views in the rezoned Hudson Square area. The site has approximately 64 feet of frontage on Greenwich Street and 150 feet on Vandam and the parcel runs approximately 111 feet deep. Additional air rights and inclusionary housing certificates that have been assembled will bring the total buildable space or a mixed-use development to 187,221 square feet. Alternatively, an entirely residential building up to 11.20 FAR could be developed. Each design could reach approximately 290 feet on Greenwich Street, offering exceptional views.

The site sits between SoHo to the east, the West Village to the north and TriBeCa to the south; its corner location allows for ideal layouts. The Hudson Square neighborhood was rezoned in 2013, allowing for the creation of a denser, mixed-use district with significantly more residential and retail development.

"A corner site allows for the most ideal layouts and with existing curb cuts, private parking could make 100 Vandam even more desirable to luxury buyers,” says Cushman & Wakefield's James Nelson, who is exclusively marketing this property with Robert Burton.

“The tower apartments in this magnificent development will have unobstructed western views in perpetuity,” adds Burton.