1487 1st Avenue, New York, NY 10075

Upper East Side, New York, New York 10075

Listing ID Number

25528

Property Description

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of the fee simple Interest in 1487-1493 First Avenue, collectively referred to as 1487 First Avenue, a 100.5’ by 100’ corner assemblage that creates an incredible development opportunity. Located in the heart of the Upper East Side, the site maintains close proximity to some of the City’s most prestigious institutions, cultural centers, schools, and zip codes. 1487 First Avenue will allow a developer to build up to approximately 153,265 square feet as-of-right, inclusive of previously acquired air rights, with the potential to maximize the total buildable square footage to approximately 192,051 square feet through the Inclusionary Housing Bonus Program. Situated on the southwest corner of 78th street, the Property provides developers with a corner opportunity to build a world-class luxury condominium project in one of the City’s most affluent neighborhoods.

Overview

Building Type:Development/Conversion Sites
Location:Southwest corner of East 78th St and First Ave
Lot Dimensions:100.5' x 100'
Lot Sq Ft:10,050
Buildable Sq. Ft:153,265
Zoning:C2-8
Assessment Value:$3,090,712
Taxes:$341,201

Contact

For further information or inspection, please contact Exclusive Agents:

Robert A. Knakal
Chairman, New York Investment Sales
(212) 660 7777
robert.knakal@cushwake.com

Thomas D. Gammino Jr.
Executive Managing Director
(212) 660 7727
tom.gammino@cushwake.com

Jonathan Hageman
Executive Managing Director
(212) 660 7773
jonathan.hageman@cushwake.com

Patrick Yannotta
Director
(212) 660 7791
patrick.yannotta@cushwake.com

Brett Weisblum
Director
(212) 660 7784
brett.weisblum@cushwake.com

Hunter L. Moss
Director
(212) 589 5136
hunter.moss@cushwake.com


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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.