The subject property
is a block-through residential development site located on the north side of
West 37th street between Ninth Avenue and Tenth Avenue. The site comes with a
foundation in place and approved plans for an approximate 100,000 square foot
luxury residential building. Current plans call for approximately 7,500 square
feet of retail space on the ground floor and 98 residential units above. The
building is ready to go vertical as approximately $4,000,000 in hard costs and
approximately $5,500,000 in soft costs have already been spent constructing the
foundation and lower levels. Additionally, the property comes with 421-A
certificates in place. The prospective purchaser will be able to recognize the
full benefit since the foundation was in place prior to June 2008.
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Neighborhoods: Hudson Yards