This trophy development site consists of approximately 57 acres of waterfront property on Arthur Kill Road bounded by Ellis and Sharrots Roads, and is one of the last large developable land tracts of its kind remaining in NYC. This section of the Arthur Kill Road Corridor has undergone explosive development over the last 5 years and is arguably the most dynamic retail/commercial area on Staten Island. The property, which has approx 1200ft of direct frontage on Arthur Kill Road, is zoned M3-1; this zoning provides a wide range of development options spanning from retail (via a special permit and/or rezoning depending on the size of the retail use) office, manufacturing (both light or very heavy), warehouse and storage facilities, and maritime uses. The site also boasts an approximately 80 year, NNN lease from Kinder
Morgan Terminals, which starts at $60,000 per year (and increases to $160,000 over the course of the lease term), for the use of 2 acres of riparian rights located “in the middle of the harbor,” so that Kinder Morgan can float a buoy to properly guide its boats toward its adjacent site. The site is located in the center of at least 5 major active and/or recently completed developments including: the Bricktown Centre at Charleston (built in 2005)- a 400,000 SF shopping center featuring national retailers such as Home Depot, Bed Bath and Beyond, and Target; The Tides at Charleston- an age restricted, waterfront gated community consisting of 190 single family homes and common recreational facilities which is currently under construction; the Charleston Bus Depot which has just been completed by NYC greatly enhancing the subject’s transportation network; and just a mile to the north, a Major Lowes Department store is currently under construction, and there are several other residential condominium projects which were recently granted approvals, including Kreischerville which has 130 senior citizen condos. As such, the subject site- the last remaining developable piece of great size (57 acres) in this Arthur Kill Rd Corridor, is perfectly situated for prime retail, commercial, and/or industrial development. Jesse Masyr of Wachtel and Masyr, LLP is the seller’s land use attorney.