The Reel

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Massey Knakal Realty Services has been retained on an exclusive basis to sell a development site at 132-142 West 27th Street. The property is located between Sixth and Seventh Avenues in Chelsea.

The site, which sits on a lot approximately 120’ x 98.75’ and 11,850 square feet, is presently used as a parking lot with a single tenant.  Currently zoned M1-6, the property allows for a maximum as-of-right buildable potential of approximately 118,500 buildable square feet.  Alternatively, a rezoning for the area could be sought to allow for a large scale residential or mixed-use tower, along the lines of 28th Street between 7th and 8th Avenue.

The desirability of the Midtown South office market, coupled with the continued expansion of the Manhattan hospitality sector, provide a unique opportunity for a commercial developer to obtain a sizable site with tremendous frontage in an emerging neighborhood.  The site represents a highly coveted development opportunity in a fashionable and growing neighborhood.  β€œIt is rare for a site of this size being available in this area,” said Massey Knakal Partner James Nelson who is marketing this property with, Massey Knakal Director of Sales Brock Emmetsberger.  Both can be reached at 212.696.2500.

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Neighborhoods: Chelsea