Listed by Ariel Property Advisors
Unpriced
Air Right - CB5 Manhattan
Details
Property Type Multifamily, Land
Sub Type Residential
Square Footage 6,000
Net Rentable (SqFt) 6,000
Zoning R10, C5-2, C5-3, C6-2A, C6-4, C6-4A, C6-6 or C6-7
Multifamily
Marketing description
Ariel Property Advisors Has Been Retained to Market the Disposition Of Approximately 6,000 Square Feet of Inclusionary Air Rights (Iars) In Manhattan’s Community Board 5. This Offering is an Opportunity For Owners of Eligible Properties to Enlarge the Size of Market Rate Developments Located in Community Board 5, Within a 1/2Mile Radius of the Generating Site or Within Additional Specified Designated Inclusionary Housing Areas. For Example, Properties Located in a R10 or Equivalent Zoning District Can Increase Their Far From 10.0 to 12.0, Providing an Outstanding Opportunity to Maximize Both the Floor Area and Value of a Development Site.
Investment highlights
- Only Properties That Meet the Iar Requirements in Manhattan’s Community Board 5 or Within a 1/2 Mile Radius of the Generating Site Are Eligible Receiving Sites.
- Additionally, Mid-block Properties That Are Located in the Designated Inclusionary Housing Area Between 7th and
8th Avenues From the North Side of West 28th Street To the South Side of West 30th Street Are Also Eligible
Receiving Sites.
Listing Contacts
Listed by Ariel Property Advisors
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