Exclusive Offering Memorandum NoHo Development Site for Sale 25 Bleecker Street Contacts Adelaide Polsinelli Terrence Harding Vice Chair Licensed Real Estate Salesperson o 646.854.3801 m 212.945.8769 m 646.418.7695 f 646.609.9325 [email protected] [email protected] Table of Contents Property Overview 4 Existing Property 5 Development Rendering 6 Zoning + Maps 11 Tax Information 14 Location Description 15 Confidentiality Agreement 18 25 Bleecker Street - Table of Contents 3 Property Overview Property Details Address: 25 Bleecker Street, New York, NY 10012 Location: North side of Bleecker Street between Lafayette Street and Bowery Neighborhood: NoHo Block/Lot: 529/54 Lot Size: 20’ x 68.25’ irr. Lot SF: ± 1,352 SF Zoning: M1-B NoHo East Historic District FAR as built: 2.19 Max FAR: 5.00 Zoning Floor Area: ± 6,758 SF The property has BSA approval for retail on the ground floor and residential above Real Estate Taxes: $14,128 Property Description This offering represents a future development site located at 25 Bleecker Street in NoHo, Manhattan, New York. Ownership has obtained approval from the Landmarks Preservation Commission (LPC) for a ±6,758 zoning square foot development site (±8,092 gross square foot) and the Board of Standards and Appeals (BSA) approval for Use Group 2 (Residen- tial) and Use Group 6 (Retail). Notably, condominiums at The Schumacher, one block from 25 Bleecker Street, are selling out at an average of ±$2,900 per square foot with several units being marketed and sold for well over $3,000 per square foot. Proposed plans are available for ground floor and lower level retail with three residential units. $6,650,000 ASKING PRICE 25 Bleecker Street - Property Overview 4 Existing Building 25 Bleecker Street - Existing Building 5 Existing Floor Plans GARDEN 20'-0 x 25'-0 STORAGE KITCHEN BEDROOM TERRACE 9'-0" x 16'-6" 9'-0" x 16'-6" 7'-6" x 11'-6" 9'-0" x 11'-6" W.I.C CL LIVING AREA LIVING AREA LIVING AREA LIVING AREA 19'-6" x 38'-0" 15'-6" x 38'-0" 19'-0" x 27'-0" 19'-0" x 25'-0" CELLAR 1ST FLOOR 2ND FLOOR 3RD FLOOR Ceiling Ht: 7'-3" Ceiling Ht: 10'-9" Ceiling Ht: 9'-10" Ceiling Ht: 11'-8" 25 Bleecker Street - Existing Floor Plans 6 Development Rendering 25 Bleecker Street - Development Rendering 7 Approved Plans 25 Bleecker Street - Approved Plans 8 Proposed Section 25 Bleecker Street - Proposed Section 9 Proposed Stacking Plan 25 Bleecker Street - Proposed Stacking Plan 10 Historic District 25 Bleecker Street - Historic District 11 Historic Designation 25 Bleecker Street Borough of Manhattan Tax Map Block 529 Lot 54 Date of Construction: c. 1830 with 1984 alterations Architect: Not determined Original Owner: David Chrystie Type: Multiple-dwelling Style: Altered Stories: 4 Structure/Material: Brick Features: Three bays; historic, paneled cast-iron columns at the fi rst story; non-historic fi xed awning,; non-historic, cement-stucco-covered fi rst and second stories, painted; non-historic entryways; non-historic, metal and wood casements; non-historic, through-wall air condition-ing units; non-historic, wrought-iron security grilles; historic brick roof parapet with central globe. History: This altered row house was built in c.1830 for David Chrystie at a time when this area was developing homes for the city’s expand-ing middle class. By 1880, the building was occupied by a boarding house, and by 1890 had been converted to a factory. By the early twentieth century, the building was occupied by the fur industry which was centered in this area into the mid-twentieth century. One fur dealer, Jacob Scholnick, moved his business into the building in the late 1930s, and purchased the property in 1945. He maintained his business in the building into the early 1960s. Another long-term tenant was Heyman Sew- ing Machine Co., which was located here from the late 1930s through the mid-1960s. By then, the post- war decline in the city’s manufacturing base left much vacant commercial space, and loft dwellers began to take over the upper stories of this building. In 1984, the building’s facade was replaced. It remains in residential use. 25 Bleecker Street - Historic Designation 12 Zoning New York City’s zoning regulates permitted uses of the property; the size of the building allowed in rela- tion to the size of the lot (“floor to area ratio”); required open space on the lot, the number of dwelling units permitted; the distance between the building and the street; the distance between the building and the lot line; and the amount of parking required. The commercial district has eight different classifications. The manufacturing district has three different classifications. The residential district has ten different clas- sifications. 25 Bleecker Street is zoned M1-5B which allows for a 5.0 FAR. In M1-5A and M1-5B districts mapped in NoHo, artists may occupy joint living-work quarters as an industrial use. 25 Bleecker Street 25 Bleecker Street - Zoning 13 Zoning 25 Bleecker Street - Zoning 14 Tax Information 25 Bleecker Street - Tax Information 15 Location Description NoHo: The lifestyle: A creative pocket of Downtown Manhattan. Laid-back but constantly stimulating. Days are spent Noho, short for North of Houston, has a reputation of being lounging at coffee shops or browsing boutiques, and nights one of the most in-demand neighborhoods in New York are spent at sleek lounges and art house theaters. City. The area’s long-standing commercial history from 1850 to the early 1900’s helped shape the neighborhood’s Noho’s entertainment and culture scene is heavily influenced striking architectural features, along with influential by a history of having artists-in-residence. Colonnade Row residents such as the Delanos and Peter Cooper. Formerly is a perfect example of a residential-cultural space, with known as the “Warehouse District,” Noho’s vintage store- the Astor Place Theater serving as the original home of the and-loft buildings have since been modernized to suit a acclaimed Blue Man Group and other off-Broadway shows. more fashion-forward and edgy downtown styling. Film enthusiasts visit the Angelika Film Center for the latest What to expect: independent viewings while Shakespeare lovers unite at The Public Theater, which also operates the beloved city- All of the benefits of living downtown, but also value a summer tradition, Shakespeare in the Park. quick and easy commute to other parts of the city. Booklovers and music fans will also find their niche at Bounded by Broadway and Bowery, Noho maintains specialized shops like Dashwood Books which focuses a six-block escape for those looking to get out of the solely on photography, and Other Music, one of the most crowds of nearby neighborhoods like Soho, Greenwich beloved independent music stores in the city. Village, or the East Village. Dining in Noho retains the no-frills and relaxed feel of the Noho’s convenient location draws commuters that work neighborhood. Taco shops, food stands and cozy cafes in downtown and midtown Manhattan. With eight train with plenty of walk-in seating combine to create a casual lines and transfers to main transit points like Union Square, dining scene that’s hip, but still accessible and affordable. it’s a great area for Manhattanites that want easy access to other neighborhoods. The market: You'll fall in love with: Pricey. New luxury buildings near Bowery and walk-ups The unique architectural design and rich artistic history. on side streets are some of the most highly sought-after Noho is known for its distinctive architectural style. Whether in the downtown market. it’s Classical or Renaissance-inspired, Noho displays an eclectic mix of facades around every corner. Noho has a relatively diverse mix of real-estate options, albeit in low quantities. Lofts and walk-ups lend This pocket-sized neighborhood is often overlooked by themselves to a classic old-New York feel throughout the New Yorkers passing through; for a time it was considered neighborhood. part of Soho instead of its own distinct neighborhood. But now, Noho sports an undeniably distinct charm that isn’t Those looking for a more modern aesthetic can look to found elsewhere in the city. the Bond Street Building, an attention-grabbing luxury home nestled between quaint, historical buildings and a Noho is a neighborhood that gives you plenty of reasons cobblestoned street. to keep looking up –– you never know what you might discover. 25 Bleecker - Location Description 16 Transportation While the neighborhoods have a tremendous amount of amenities and cultural offerings for its residents and visitors, part of the allure of coming to NoHo is that it provides remarkable accessibility to the entire city. The neighborhood is primarily served by the 6, B, D, F, M, N, and R subway lines, which provide direct access to all corners of Manhattan and the boroughs. The Bleecker Street 6 train stop that was recently renovated is on the same block as the property providing a link to the B, D, and F trains. The cross-town buses provide arguably the bus system’s largest convenience, allowing residents to get to and from the East Side through to the Hudson River by means of the M8 and M21 buses. By car, there is easy access to the Brooklyn Bridge, Manhattan Bridge, and Brooklyn-Battery tunnel. The area is equally accessible to John F. Kennedy and LaGuardia airports. 25 Bleecker Street 25 Bleecker Street 25 Bleecker Street - Transportation 17 Confidentiality Agreement This Confidential Offering Memorandum has been The Owners and Compass each expressly reserve prepared exclusively by Urban Compass, Inc. d/b/a the right, in their sole discretion, to reject any and all Compass (“Compass”) on behalf of Ownership, the expressions of interest or offers regarding the Prop- (“Owners”), regarding the purchase of the prop- erty and/or terminate discussions with any entity at erty described herein at 63-49 & 63-53 60th Place, any time with or without notice.