4-10 East 30th Street
Property Description
BKREA has been retained on an exclusive basis to arrange for the sale of 4-10 East 30 Street (“The Site”), an extraordinary mixed-use development opportunity in the thriving NoMad neighborhood of Manhattan. The site is located on the south side of East 30th Street between Fifth and Madison Avenues and benefits from an impressive 132.5’ of frontage and a depth of 98.75'. In its current state, Lots 81 and 83 are both 5 story mixed-use buildings, and Lot 77 is a parking garage, all of which will be delivered vacant. Given the nature of the existing garage, there is already a curb cut in place, providing time and cost savings, as well as vehicle accessibility. Furthermore, given the low-rise nature of the landmarked church to the south (see page 5 for rendering), a future development will benefit from phenomenal light and air, even on the lower floors facing south — which is typically not the case for mid-block development sites. th The roughly 13,084-square-foot lot is located within the C5-2 (R10 overlay) zoning district, which allows for a 10.0 FAR for both residential and commercial uses, amounting to approximately 130,840 ZFA. Additionally, due to its R10 overlay, the site can increase its FAR up to a 12.0 FAR, or 157,008 ZFA, with the purchase of offsite UAP air rights within Community Board 5 or within a ½ mile of the site, or through the development of affordability onsite. A path to increase the site by 26,168 ZFA is very achievable, as BKREA is currently selling these air rights. Furthermore, due to the passing of City of Yes, the transfer of landmark air-rights has become more flexible, and there is potential to increase the density even further. For more information, please reference the massing studies in the data room. 4-10 East 30th Street presents an outstanding opportunity due to its optimal development size and highly efficient frontage. The future development is set to capitalize on NoMad’s unmatched demand drivers. The area has emerged as one of Manhattan’s most desirable enclaves, spurring the development of modern luxury residential, hotel, and office properties. Its immediate access to Madison Square Park and major employment areas provides exceptional convenience for its residents. Additionally, the site is a 5-minute walk from both the R and W lines at 28th Street / Broadway and the 6 line at East 28th Street / Park Avenue.
Key Property Information
| Listing Status: | Unavailable |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Land/Development |
| Lot Size: | 3.00 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
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