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617 E Sixth St 2,258 SF Specialty Building Offered at $4,773,420 CAD in New York, NY 10009
Investment Highlights
- Delivered vacant, providing immediate redevelopment potential.
- UAP program may increase development capacity to approximately 10,830 buildable square feet.
- Supports boutique condominium or 485-x rental development strategies.
- R8B zoning allows up to 9,025 buildable square feet as-of-right.
- Positioned on a 24.83-foot-wide lot between Avenues B and C in the East Village.
- Located near East River Park, neighborhood dining destinations, and public transit connections.
Executive Summary
Prime East Village Location:
24.83’ wide, 2,256 SF lot on a quiet residential block.
Flexible Development Scale:
R8B zoning allows 9,025 BSF as-of-right, up to 10,830 BSF via UAP.
Favorable Basis:
$3.45M asking ($382/BSF Standard / $319/BSF UAP) vs. $395/BSF comp average exposure.
Dual Project Potential:
Ideal scale for a boutique condo or 485-x rental.
Proven Local Exit:
Directly adjacent to 619 E 6th St, which achieved $1,963/SF condo sellouts.
Manageable Equity:
Low total capitalization required compared to larger Manhattan sites.
Neighborhood Momentum:
Adjacent to new developments and the East River Park (ESCR) project.
Delivered Vacant
24.83’ wide, 2,256 SF lot on a quiet residential block.
Flexible Development Scale:
R8B zoning allows 9,025 BSF as-of-right, up to 10,830 BSF via UAP.
Favorable Basis:
$3.45M asking ($382/BSF Standard / $319/BSF UAP) vs. $395/BSF comp average exposure.
Dual Project Potential:
Ideal scale for a boutique condo or 485-x rental.
Proven Local Exit:
Directly adjacent to 619 E 6th St, which achieved $1,963/SF condo sellouts.
Manageable Equity:
Low total capitalization required compared to larger Manhattan sites.
Neighborhood Momentum:
Adjacent to new developments and the East River Park (ESCR) project.
Delivered Vacant
Property Facts
Amenities
- Bus Line
Exceptionally walkable
100/100
Fairly drivable
40/100
Exceptional public transit
100/100
Exceptionally bikeable
100/100
Property Taxes
| Parcel Number | 0389-0052 | Improvements Assessment | $225,827 CAD |
| Land Assessment | $160,682 CAD | Total Assessment | $386,510 CAD |
Property Taxes
Parcel Number
0389-0052
Land Assessment
$160,682 CAD
Improvements Assessment
$225,827 CAD
Total Assessment
$386,510 CAD
Contacts
-
Michael Tortorici -
Shimon Shkury -
James Nestor -
Chéri Roohi -
Ariel Property Advisors
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617 E Sixth St
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