Vacant Lot at 79 Eldridge Could Be Yours for $4.55M

Posted on: January 2nd, 2013 at 6:47 am by

79-eldridge-street-lot

The tiny vacant lots dotting the Lower East Side landscape are quickly disappearing into the real estate ether. Sold off for big bucks and into new multi-million-dollar developments. Next on the list is a photogenically decaying parking parcel on Eldridge Street, presently locked behind chain-link fencing.

For a meager $4.55 million, 79 Eldridge Street offers investors 15,180 buildable-square-feet in a commercially zoned area that allows for residential conversion. Note the major selling point in the listing is the “curb cut” at the entrance to the property. These ramps are rare and difficult to acquire from the city. Hence the hard sell by Massey Knakal:

The subject property is a vacant parcel located on the west side of Eldridge Street, between Hester Street and Grand Street. The lot size is approximately 25.3′ x 100.25’ with a total lot coverage of 2,530 square feet. The property is in a C6-1G zone with an FAR of 6.00 for commercial use, 3.44 for residential use and 6.50 for community facility use. The highest and best use would be commercial development or a mixed-use building which would result in a development of approximately 15,180 BSF. It is important to note that subject benefits exclusively from a curb cut in front of the property. Curb cuts in Manhattan, especially lower Manhattan, are rare and often very difficult to acquire from the City of New York. Furthermore, vacant lots with development potential in the Lower East Side are equally rare and quickly being purchased by developers.

Anyone for another glass tower?

Recent Stories

billy-bourek
Billy Leroy (of Antiques Fame) Stars in ‘Bourek,’ Now Playing at Cinema Village

​Billy Leroy is not dead, okay? He’s just not on the Bowery anymore. Billy Leroy, whose eponymous antiques business folded five years ago, has taken on acting. The current Baggage Battles star is a leading man in the new movie, Bourek. It’s an independent romantic comedy filmed predominantly in Greece, and now playing on the big […]

houston-sidewalk-5
New Sidewalks and Curbs Signal Some Semblance of Progress for East Houston Reconstruction Project

​Since East Houston roadwork is nowhere near completion, we must relish the baby steps, as it were, of forward progress. Indeed. The first real noticeable change in months is now palpable along the battered corridor. New sidewalks on the south side. Over the last few weeks, contractors have poured new cement (i.e. “pigmented sidewalks”) and […]

#Chalk LES, Photo: LES History Month
Chalk the LES this Sunday to Kick off the 3rd Annual Lower East Side History Month

To kick off the third annual Lower East Side History Month, co-sponsors by FABnyc and Downtown Art are again planning a community chalking event for Sunday and Monday. A “chalk about town,” you might say. LES Stories, as the two-day event is called, encourages participants to sketch trivia, memories, or random musings about the neighborhood […]

Aron Streit holding the matzo on opening day, 1925
Streit’s Documentary is a Smash, Extended 2 More Weeks at Film Forum

The numbers are in, and the critically acclaimed documentary about Streit’s Matzo was a home run. In its short one-week residency at the Film Forum, intended to coincide with Passover, Streit’s: Matzo and the American Dream surpassed expectations. It became the highest grossing film at the movie house this past week. Due to the success, daily […]

129allen
Peruvian Restaurant ‘Baby Brasa’ Opening Next Month at 129 Allen Street

The Precision barbershop at 129 Allen Street shuttered and relocated earleir this spring. It’s now down the block and with a rebranded identity, Allen Street Cut & Shave. In its place, a new restaurant. A Peruvian restaurant by the name of Baby Brasa is on its way. Butcher paper is in the windows, signaling the […]