160 Pearl StNew York, NY 10005

Property Details for 160 Pearl St

Property size (Sq ft)

22,614 SF

Property type

Other commercial real estate

Property subtype

Other mixed-use properties

Description

This exceptional mixed-use property at 160 Pearl Street in New York City's Financial District presents a unique investment opportunity. The six-story building, encompassing 22,614 square feet on a 4,343 square foot lot, offers significant development potential. With C5-5 zoning (R10 equivalent)/LM, the property boasts a residential floor area ratio (FAR) of 12, allowing for 52,116 buildable square feet as of right, expandable to 62,477 square feet through the acquisition of neighboring air rights. A commercial FAR of 15 allows for a maximum of 65,145 buildable square feet across residential and commercial uses. The property's location within the thriving Financial District, where condo sales reach $2,500 per square foot and rentals up to $100 per square foot, underscores its lucrative potential. Flexible ownership options are available, including ground lease and lease-to-own scenarios, catering to diverse investment strategies. This unparalleled opportunity is ideal for value-add investors or end-users seeking a creative development project in a prime New York City location. The property includes 65,145 buildable square feet of air rights.

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7057

Longitude

-74.0075

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