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139-141 BOWERY 50’ X 109’ DEVELOPMENT SITE NEW YORK, NY Between Grand and Broome Street | East Side of Bowery

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139-141 BOWERY 50’ X 109’ DEVELOPMENT SITE NEW YORK, NY Between Grand and Broome Street | East Side of Bowery 139-141 BOWERY 50’ X 109’ DEVELOPMENT SITE NEW YORK, NY Between Grand and Broome Street | East Side of Bowery Rendering ASKING PRICE: $26,000,000 Cushman and Wakefield has been retained on an exclusive basis to arrange for the sale of 139-141 Bowery, a 50’ wide development site between Grand Street and Broome Street, NYC. The site is 50.06’ x 109.10’ and has a footprint of approximately 5,417 SF. The air rights and light and air easement agreement from 143 Bowery (Lot 8) are included in the offering. Two 3 story buildings sat on the property and were recently demolished. The site is positioned in a split zone including C6-1G and C6-3A*. The front portion (50.06’ x 97.08’) of the lot is in the C6-1G zone and the small portion in rear (50.06’ x 11’) is in the C6-3A*, Lower East Side Inclusionary District. Including the air rights from 143 Bowery (of roughly 5,900SF as per the approved plan), the maximum buildable is 38,417 BSF for commercial or mixed use or 41,665 BSF with community facility use. There is an approved plan in-place for a 14-story mixed-use building. The plan calls for retail space on Ground floor and Mezzanine level, offices, community facility space on Floors 2-6, and residential apartments on Floors 7-14. The site provides investors and developers a rare opportunity to build and own along one of the most sought-after corridors in New York City, the Bowery. The Bowery has evolved into a 24/7, 365 destination for living, working, shopping, and playing and this site is ideally situated in the heart of many existing as well as new developments in the area. Nearby attractions include the famous event venue, Capitale, a brand new hotel/ co-working space, Selina, operated by WeWork’s founder Adam Neumann at 138 Bowery, and the Citizen M Hotel at 185 Bowery. The Moxy Hotel’s third NYC outpost is beginning construction steps away from the subject site as well as a brand new 10-story office building at 171 Bowery. The site is also steps from various modes of transportation including the B, D,EE JT and Z trains. RIVINGTON STREET CHRYSTIE STREET CHRYSTIE STREET J Z Ken mare KENMARE STREET DELANCEY STREET F N Park LUDLOW ST. ORCHARD STREET GRAND STREET B ALLEN STREET ELDRIDGE ST. BROOME ST. T E E R ST E TT AFAYE L T STREE NTRE CE MOTT ST. ELIZABETH ST. CENTRE MARKET PL. R MULBERRY ST. B 4 O W E R D C6-3A* Y Q 5 FORSYTH STREET Littl e GRAND ST. aly W 6 It 139-141 BOWERY C6-1G HOWARD STREET HESTER ST. 8 7 BROOME STREET WAY AD RO Lot SF: B LANDT ALL LANDT T R CO E CANAL STREET RE 5,417 SF STREET LAFAYETTE Harry DIVISION ST CENTRE STREET CENTRE Howard Square MOTT STREET T BAXTER STREET E MU H L I E Z L A B B EY B E O R E W PIKE STREET T R E H Y BOWERY R S S Y T T R RE E E E T T us C ci The Site Air Rights CUSHMAN & WAKEFIELD / 1 139-141 BOWERY NEW YORK, NY PROPERTY INFORMATION PROPERTY INFORMATION LOCATION East side of Bowery, between Grand Street and Broome Street BLOCK / LOT 423 / 7 LOT DIMENSIONS 50.06' x 109.10' (Irregular) Approx. LOT AREA 5,417 Approx. ASSESSMENT (18/19) $777,150 R.E. TAXES (18/19) $81,710 Zoning Information (All zoning information should be independently verified) Lots: 7 (Site) & 8 (air rights, light & air) Zoning: C6-1G & C6-3A* (Split Zone) C6-1G (Approx. 50.06' x 97.08') Use Commercial Residential Community Facility Inc. Housing FAR (As of Right): 6.00 3.44 6.50 N/A (Approx.) Respective Zoning Lot SF: 4,878 4,878 4,878 N/A (Approx.) BSF per Use: 29,267 16,780 31,706 N/A (Approx.) C6-3A* (Approx. 50.06' x 11') Use Commerical Residential Community Facility Inc. Housing FAR (As of Right): 6.00 6.50 7.50 8.50 (Approx.) Respective Zoning Lot SF: 539 539 539 539 (Approx.) BSF per Use: 3,235 3,505 4,044 4,583 (Approx.) Combined BSF per Use: 32,502 20,284 35,750 (Approx.) Purchased development Rights*: 5,915* 5,915* 5,915* (Approx.) Total Development Rights: 38,417 26,199 41,665 (Approx.) *As per the approved plan Approved Plan: 41,093 (As per approved ZFA, Above Grade) Approx. SF 47,108 (With Deductions Reflected, Above Grade) Approx. SF 52,095 (With Deductions Reflected, With Basement) Approx. SF Approved Zoning Floor Area: Commercial Residential Community Facility Total Gross: 19,226 21,268 599 41,093 (Approx. SF) For more information, please contact Exclusive Agents: MICHAEL F. DECHESER MEI LING WONG ANDREW T. BERRY BRYAN F. HURLEY Senior Managing Director Director Director Associate (212) 660 7772 (212) 660 7716 (212) 589 5124 (212) 660 7706 [email protected] [email protected] [email protected] [email protected] Cushman & Wakefield copyright 2019. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question. Principal Confidentiality and Indemnification Agreement (the “Agreement”) 139-141 Bowery, New York, NY 10002 Principal: ______________________ Title: ______________________ Company: ______________________ Phone: ______________________ Email: ______________________ Re: Confidentiality and Indemnification Agreement This will serve to confirm that Cushman & Wakefield Realty of Manhattan, LLC (“Agent”) is acting as exclusive agent on behalf of The Owner and their related companies (collectively “Owner”) in connection with the possible sale of 139-141 Bowery, New York, NY (the “Property”). You have informed us that you (“Prospective Purchaser”) are interested in the possible purchase of the Property. Prospective Purchaser also hereby represents that Prospective Purchaser is not a broker and/or will not be acting as a broker relative to the Property. Prospective Purchaser has requested that Agent furnish Prospective Purchaser with certain information concerning the Property. This information may include, without limitation, the offering memorandum prepared by Agent, various papers, documents, legal instruments, studies, brochures, computer output, and other materials, and any discussions or Property visitations which are conducted with or by Prospective Purchaser concerning the Property (all of the aforementioned information is collectively referred to as “Evaluation Material”). In this connection, we are prepared to consider the furnishing of the Evaluation Material to Prospective Purchaser only upon the condition that Prospective Purchaser agree to treat the Evaluation Material confidentially as hereinafter provided. As a condition to Agent furnishing the Evaluation Material to Prospective Purchaser, Prospective Purchaser hereby agrees, as follows: 1. All Evaluation Material furnished to Prospective Purchaser by Agent or Owner will not be used or duplicated by Prospective Purchaser for any purpose other than evaluating a possible purchase of the Property by Prospective Purchaser. Prospective Purchaser agrees to keep all Evaluation Material (other than information which is a matter of public record or is provided in other sources readily available to the public other than as a result of disclosure by Prospective Purchaser or a Related Party) strictly confidential; provided, however, that the Evaluation Material may be disclosed to directors, officers, and employees of Prospective Purchaser, and to Prospective Purchaser’s outside legal counsel, accounting firm, consultants, current partners, but not prospective partners, lenders, and affiliates (all of whom are collectively referred to as “Related Parties”) who, in Prospective Purchaser’s reasonable judgment, need to know such information for the purpose of evaluating a possible purchase of the Property. The Related Parties shall be informed by Prospective Purchaser of the confidential nature of such information and shall be directed by Prospective Purchaser to keep all such information, as a condition of the delivery of the Evaluation Materials to such Related Party, in the strictest confidence and to use such information only for the purpose of evaluating a possible purchase by Prospective Purchaser. Any disclosure of Evaluation Material by Related Parties shall be deemed made by and be the responsibility of Prospective Purchaser. Prospective Purchaser will promptly, upon the request of Agent or Owner, deliver to Agent or Owner all written Evaluation Material furnished to it by Agent or Owner, whether furnished before or after the date of this letter, without retaining copies thereof. 2. Prospective Purchaser agrees not to make any of the Evaluation Material available, or disclose any of the contents of the Evaluation Material, or disclose either the fact that discussions or negotiations are taking place C&W MAN CA PRINCIPAL v1.1 ________ concerning a possible sale of the Property to Prospective Purchaser or any of the terms, covenants, conditions, or other facts with respect to any such sale or any investment proposal, including the status thereof, to any person other than as permitted by the preceding paragraph unless: (i) such person has been identified in writing to Agent and Owner; (ii) Agent and Owner have approved in writing the disclosure of the Evaluation Material to such person; and (iii) such person has entered into a written Confidentiality Agreement with Agent and Owner the provisions of which agreement shall be substantially the same as the provisions of this Agreement. The term “person” as used in this Agreement shall be interpreted broadly to include, without limitation, any corporation, partnership, association, limited liability company or any other entity or individual.
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