2 Thomas Street

• 1. Ideal Corner Frontage: The roughly 105 feet of frontage along Thomas Street and 65 feet along Broadway enable the creation of efficient floor plates.
• 2. Approved Redevelopment: Ownership obtained approval for redevelopment plans conducted by Morris Adjmi Architects from the LPC.
• 3. Additional Air Rights: Ownership has already purchased additional Inclusionary Housing Air Rights, allowing developers to capitalize on the full 12 FAR.
• 4. Tremendous Light and Air: The corner positioning of the site ensures ample natural light and air, benefiting from exposure in three directions: north, south, and east.
• 5. Favorable Tribeca Location: The site will allow developers to benefit from Tribeca’s exceptional neighborhood demand drivers.
• 6. Prime Retail Frontage: The plans include retail at the base, enabling a prospective developer to capitalize on the premier Broadway retail corridor.

Property Description

BKREA has been retained on an exclusive basis to arrange for the sale of 2 Thomas Street (“The Site”), a rare mixed-use redevelopment opportunity in the heart of the Tribeca neighborhood in Manhattan. The site is located on the southwest corner of Thomas Street and Broadway and boasts roughly 65 feet of frontage along Broadway and 105 feet along Thomas Street. In its current state, 315 Broadway (Lot 29) is a five-story landmarked building, while 2 Thomas Street (Lot 28) is a vacant two-story commercial building that formerly housed a McDonald's. The site will be delivered completely vacant, allowing prospective developers the opportunity to demolish the rear portion of 315 Broadway and the full building at 2 Thomas Street. The 6,779 square-foot lot is within the C6-4A (R10 equivalent) zoning district, allowing for an as-of-right FAR of 10.0 for either commercial or residential use, which translates to an as-of-right ZFA of 67,790. Additionally, due to its R10A overlay, a developer could increase residential density to 12.0 FAR with inclusionary housing bonuses, which the seller has already purchased, resulting in a maximum ZFA for the site of 81,348. Current ownership has obtained plans, conducted by Morris Adjmi Architects, that have received Landmarks Preservation Commission (LPC) approval. The project involves the restoration of the façade at 315 Broadway which is landmarked. It also involves the removal of the rear portion of the 315 building such that the land can be combined with the land at 2 Thomas Street to create an “L” shaped land parcel which includes the corner of Broadway and Thomas. The plans include a 20-story building with 81,313 ZFA and feature 76 units, with retail at the base of the building. All information regarding these plans is readily available in the data room. 2 Thomas Street is truly an exceptional opportunity, as its location positions the site to capitalize on Tribeca’s unparalleled demand drivers. The neighborhood is home to some of the city’s most popular restaurants, retail outlets, prominent schools, and scenic parks. Additionally, many residents benefit from the convenience of walking to work, with several of the city’s largest office buildings nearby. Furthermore, the site is within walking distance of several subway lines, including the 1, 2, 3, 4, 5, 6, J, Z, N, Q, R, and W, providing easy access throughout Manhattan and the outer boroughs.