The subject
properties consist of four adjacent lots improved with leased industrial
buildings. All of the leases are subject to a termination clause
positioning this site as an ideal development opportunity. The
assemblage is located within the Large-Scale Plan (Subdistrict A4) of
the Special Hudson Yards Zoning District. Sites within this area are
zoned for dense commercial and limited residential uses. Flexible height
and setback requirements accommodate large floor-plate office buildings
and allow for creative design. According to the revised zoning text,
development incentives for this area include the potential to purchase
up to 8.0x FAR from the City’s District Improvement Fund or from private
property owners within Phase II Area. Additionally, 3.6x FAR may be
purchased through the Eastern Rail Yards transfer program in private
market transactions with the controller of the ERY site.
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Neighborhoods: Hudson Yards