55 Pitt St New York, NY 10002

This exceptional 2,122 square foot commercial lot at 55 Pitt Street in New York City's vibrant Lower East Side presents a compelling development opportunity. Currently vacant, the site features a 19-foot wide, 100-foot deep building, offering significant potential for redevelopment. The R8A zoning allows for a building up to 120 feet high, permitting the construction of a 100% residential building or a mixed-use development. Existing commercial space can be grandfathered into any new construction. The lot's dimensions are ideal for a multi-unit residential building with ample sunlight and desirable views. This prime location is situated on the same block as the River Ridge Condos and a twelve-story luxury condominium building at 206-210 Delancey Street, underscoring the area's upscale residential transformation. The property enjoys convenient access to various transportation options and is within easy reach of the upscale retail establishments along Delancey and Clinton Streets. Offered at $3,850,000 ($388/SF), this represents a rare chance to acquire a highly desirable development site in a rapidly appreciating neighborhood. The property is locally owned.