Little Italy Church Rectory Hits the Market as $14M Development Site
The dying carcass of Little Italy continues to get picked apart.
Mere days after a devastating fire knocked out Angelo’s on Mulberry Street comes word that the Most Precious Blood Church is selling its rectory. (The church itself is on Baxter Street.)
The fifty-foot-wide property in question, located at 109 Mulberry Street, currently houses the three-story parishioner’s residence, and is pitched as a “rare development opportunity” to construct luxury housing recessed from the street. Just looking at the site, it’s easy to see how this might have developers champing at the bit.
Asking price is a cool $14 million.
Below is the broker-babble from Cushman & Wakefield, which apparently has the exclusive:
109 Mulberry Street is on the west side of Mulberry Street with Hester Street to the north and Canal Street to the south, located in the heart of Little Italy. Little Italy’s culture, character and traditions have withstood the test of time, making the neighborhood a popular destination for residents and tourists, alike.
Presently, 109 Mulberry Street is a former rectory located directly behind the Church of the Most Precious Blood. Sitting on a 5,088 square foot lot, the former rectory is a 5,400 square foot, three-story building. Located within the Special Little Italy District in underlying zoning C6-2G, 109 Mulberry Street presents buyers with a rare development opportunity, primed for residential condominiums with retail on the ground floor.
As the listing notes, any proposed developments would be bound by the Special Little Italy District, a zoning designation that limits building heights to 85 feet and requires facades substantially composed of brick.