CB4 Manhattan AveNew York, NY 10036

Property Details for CB4 Manhattan Ave

Property type

Other commercial real estate

Property subtype

Other land

Description

This offering presents a unique opportunity to acquire approximately 6,000 buildable square feet of inclusionary air rights (IARs) in Manhattan's Community Board 4. These air rights are ideal for developers seeking to expand the size of market-rate developments. Eligible receiving properties must be located within Community Board 4 or within a half-mile radius of 540 West 53rd Street. The permitted zoning for eligible receiving sites includes R10, C2-8, C4-7, C6-4, or C6-5 districts, or Inclusionary Housing Designated Areas. For instance, properties zoned R10 could see their Floor Area Ratio (FAR) increase from 10.0 to 12.0, significantly enhancing both the floor area and overall value of the development. This presents a substantial advantage for developers aiming to maximize their project's potential. The 6,000 square foot parcel offers a significant opportunity to increase density and profitability for eligible projects in a prime Manhattan location. The precise location of the generating site is 540 West 53rd Street, New York, NY 10036. This offering is for the air rights only; no underlying land is included. Interested parties should verify their property's eligibility for inclusionary air rights and confirm zoning compliance before making an offer.

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7576

Longitude

-73.9916

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