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~10,000 BSF CORNER DEVELOPMENT SITE Commercial Development Opportunity in Nomad PROPERTY OVERVIEW

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~10,000 BSF CORNER DEVELOPMENT SITE Commercial Development Opportunity in Nomad PROPERTY OVERVIEW ~10,000 BSF CORNER DEVELOPMENT SITE Commercial Development Opportunity In NoMad PROPERTY OVERVIEW ASKING PRICE: $7,500,000 PROPERTY INFORMATION: Address: 836 Avenue Of The Americas, New York, NY 10001 Location Located on the northeast corner of Sixth Avenue & West 29th Street. Block & Lot: 831-1 Lot Dimensions: 24.67' x 40.33' Lot SF: 996 SF (approx.) Zoning: C6-4X (R10X) Residential & Commercial FAR: 10.00 Total Buildable SF (As-of-Right): 9,960 SF (approx.) Assessment (19/20): $351,000 Annual Property Tax (19/20): $36,904 Tax Rate: 10.5140% Tax Class: 2 TAX MAP: West 30th Street Broadway Avenue Of TheAvenue Americas West 29th Street 2 836 AVENUE OF THE AMERICAS EXECUTIVE SUMMARY THE OPPORTUNITY: Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 836 Avenue of Americas. The subject property is a development site located on the northeast corner of Sixth Avenue and West 29th Street. This property is zoned C6-4X which has a commercial and residential FAR of 10.00 which equates to 9,960 buildable square feet. This site provides future ownership with an extremely rare opportunity to develop a retail or office building in one of the most coveted neighborhoods in New York City. Sixth Avenue is home to an abundance of restaurants, offices, hotels, and luxury condominiums. The property also benefits from its close proximity to an array of transportation options. The area is canvassed by a variety of subway lines, including the N R F M ^ & ! trains, as well as New Jersey Path and multiple bus lines. The plethora of transportation options provides seamless access to those who work, live, and shop in all areas of Manhattan. Additionally, the area is also located within walking distance to both Penn Station and Grand Central station, the busiest transportation hubs in the eastern United States. This presents a unique opportunity to develop a building in a prime neighborhood with unparalleled growth potential. PROPERTY HIGHLIGHTS: Premiere Location: Prime corner location featuring 65’ of wrap-around frontage on Sixth Avenue and West 29th Street. Optimal Size Development: The site is ideal for a boutique development that can seize on an underserved segment of the market and benefit from the surrounding bustling retail environment. Creating a Presence: The site appeals to single tenant occupiers who value the kind of presence and amenities occupying their own building offers. Flexible Zoning: The site is zoned a C6-4X (R10X) allowing a developer to be able to build an array of different uses, such as retail, office, residential or community facility. Vacant Possession: The property is fully excavated vacant land with no building needing to be demolished, saving significant time and money during pre-construction. What’s Around: The site is located right across the street from Hotel Eventi & on the same block as the brand-new Virgin Hotel. Additionally, the site is located on the same block as the proposed 26-Story AC Marriott and a block north of the Ritz Carlton. There are many new office, residential and hotel towers being newly developed in the immediate neighborhood. Transportation: Within close proximity to a variety of subway lines, including the N R F M ^ & ! trains. Additionally, the site is within walking distance to both Penn Station and Grand Central station. CUSHMAN & WAKEFIELD 3 ZONING INFORMATION C6 ZONING: C6 districts permit a wide range of high-bulk commercial uses requiring a central location. Most C6 districts are in Manhattan, Downtown Brooklyn and Downtown Jamaica; a C6-3D district is mapped in the Civic Center area of the Bronx. Corporate headquarters, large hotels, department stores and entertainment facilities in high-rise mixed buildings are permitted in C6 districts. & & C6-1, C6-2 and most C6-3 districts, typically mapped in areas outside central business cores, & & ( 0 such as the Lower East Side and Chelsea, have a commercial floor area ratio (FAR) of 6.0; the & 67 $9( 67 C6-3D $9(district has an FAR of 9.0. C6-4 through C6-9 districts, typically mapped within the & &<25. & & city’s*$/9,1 major business districts, have a maximum FAR of 10.0 or 15.0, exclusive of any applicable =21,1*0$3 bonus. Floor area may be increased by a bonus for a public plaza or Inclusionary Housing. & 7+(1(:<25.&,7<3/$11,1*&200,66,21 &/ ('.2&+ 0 48((16%252 352/ :(67 & 3. %5,'*( &/ & 3. &/0L' 0DMRU=RQLQJ&ODVVLILFDWLRQV C6-2A, C6-3A, C6-3X and C6-4A are contextual districts with maximum building heights. C6- 7$ 3$5. ($67 3D and C6-4X districts allow towers above a building base; special rules determine the tower’s %/9' 5 &0 3$5. height and articulation. All other C6 districts allow towers to penetrate a sky exposure plane %/9' : 5$ $9( +8'621 & and do not require a contextual base. 3$5. & : 7+ & 7+ /,1( & 52$' 3$5. 0 &$ C6 districts are widely mapped within special& districts. C6-4.5, C6-5.5, C6-6.5 and C6-7T 5 : / 7+ 3$5. districts are mapped only within the Special Midtown District and have unique floor area 65, +8'621 & /223 ratios and bonus rules. C6-1G, C6-2G, C6-2M and C6-4M districts are mapped in Chinatown 0L' &0 0 and Chelsea and in the Special Garment Center District, and have rules for the conversion of %8/.+($' :(67 ( 67 & 5' non-residential space to residential use. '$9,'%(1 6287 52$' 9$1'(5%,/7 *85,21 + /223 *& 3/ /223 7 5' & ($6 +< 38%/,&3/ C6 districts are well served by mass transit, and off-street parking is generally not required, $1' 5 except within the C6-3D district. /,1( : 7+ ( & 0 -2(/28,63/$=$ 5' %8/.+($' 3(115567$7,21 3,(5+($' (IIHFWLYH'DWH V RI5H]RQLQJ 7$ $1' 0L' & 1(/621 :,11,( 67 )5$1./,1'5226(9(/7,6/$1' 0$1'(/$ 0 & &251(5 3,(5+($' 86 &; : 0$5<2 1' &211253/*' 0' 9,1&(17)$/%$12 0 & $/%$12648$5( 86 6SHFLDO5HTXLUHPHQWV 67 67 %/9' 67 67 67 7+ ( $9( 6(59,&( 67 5' 67 5$ 7+ & $9( 3$5. 05$ %8/.+($' 7+ 5' 5% 7+ $9( & &$ 0 7+ ȭ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mixed building 12 FAR residential tower Portion of building higher than 85’ must be set back at least 10’ when facing a wide street or 15’ when facing a narrow street Base height: Minimum: 60’ Maximum: 85’ 120’ maximum building height C6–2A (Residential district equivalent: R8A) 6 FAR commercial base Floor area of building can be increased if public plaza or C6–6 affordable housing is provided (Residential district equivalent: R10) C6 Commercial Districts C6– C6– C6– C6–1 C6–1A C6–2 C6–2A C6–3 C6–3A C6–3X C6–4 C6–5 C6–6 C6–7 C6–8 C6–9 3D 4A 4X Commercial FAR6.04 6.04 6.04 6.06.04 6.09.0 6.010.04 10.0 10.04 10.04 15.04 15.04 10.04 15.04 Residential FAR 0.87–3.441 0.78–2.432,5 0.94–6.023,5 6.025 0.99–7.525 7. 525 9.05 9.010.04,5 10.05 10.05 10.04,5 10.05 10.05 10.04,5 10.05 Residential R7 R6 R8 R8AR9R9A R9DR9X R10R10AR10XR10 R10R10 R10R10 District Equivalent 1 4.0 FAR on wide streets outside the Manhattan Core under Quality Housing Program 2 3.0 FAR on wide streets outside the Manhattan Core under Quality Housing Program 3 7.2 FAR on wide streets outside the Manhattan Core under Quality Housing Program 4 FAR bonus of up to 20% for a public plaza 5 Increase in FAR with Inclusionary Housing Program bonus CUSHMAN & WAKEFIELD 5 THE NEIGHBORHOOD NoMad NoMad, or the area known as “North of Madison Square Park” is a neighborhood centralized around the Madison Square North Historic District, extending from 25th street to 32nd street, between the Avenue of the Americas and Lexington Avenue. The district is situated amongst some of the best areas in NYC, including Chelsea to the west, Midtown South to the northwest, Murray Hill to the northeast, and the Flatiron District to the south. NoMad is an interesting area as it has an identity of its own, but is the artery that connects the hustle and bustle of Herald Square and the Macy’s area with the more subdued, but prominent Flatiron district. The history of the NoMad starts with a discussion of Madison Square Park, which is the major landmark of the area. Once a military parade ground, Madison Square Park offers a public space to the area that anchors the community.
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