Compare Listings

SOHO DEVELOPMENT PROJECT, MANHATTAN

0 Sqft -

Property Description

SOHO DEVELOPMENT SITE PRESENTATION NEIGHBORHOOD SUMMARY

The Soho, New York Development Site is currently a single-story parking lot, which sits on a
125.08’ x 100’ lot on a prime block in the Chinatown section of Manhattan, one of the
most sought after neighborhoods in all of New York City. Chinatown has become an area of the first choice of affluent purchasers who seek access to the neighborhood’s affluential social circles, amenities, easy access to Manhattan, and quality of life.

As a result of this demand coupled with a lack of inventory, pricing in Chinatown has
increased dramatically over the last 24 months. Vibrant Chinatown is a densely populated neighborhood that draws foodies and tourists to its many Chinese and Southeast Asian restaurants for dumplings, pork buns, and hand-pulled noodles.

The busy sidewalks are packed with souvenir stores, bubble tea shops, and markets
selling everything from fresh and dried fish to herbs and spices. Locals hang out in leafy
Columbus Park for Tai Chi, chess, and mahjong.

Area: 492 acres
Population: 47,844 (2010)

SOHO DEVELOPMENT SITE PRESENTATION SUMMARY
PRICE: $35 Million
PROPERTY TYPE: Development Site
NEIGHBORHOOD: Chinatown
LOT SIZE: 125 x 100
BUILDABLE SQUARE FEET: 62,000sqft
ZONING: Mixed Use asking
CURRENT USE: The property is currently being used as a parking space.
INCOME: Triple net lease that income is $870,000 annually.
PROPERTY LEASE TERMS:
Property can be delivered vacant or they can re-sign the lease with the tenant was several more years.
MAX. ALLOWABLE RESIDENTIAL FAR: 6.02
MAX ALLOWABLE COMMERCIAL FAR: 6
MAX ALLOWABLE FACILITY FAR: 6.5
PROPERTY CHARACTERISTICS:
Lot Area: 9,666 sq ft (125.08′ x 100′) The proposed 210-foot-tall development will yield 62K square feet, with 49, 600 square feet designated for residential space and 5,500 square feet for commercial space. The building will have 29 residences, most likely condos based on the average unit scope of $1,500 / $2,300 square feet approx . The concrete-based structure will also have a cellar and a 30-foot-long rear yard.

MAX. ALLOWABLE RESIDENTIAL FAR: 6.02
MAX ALLOWABLE COMMERCIAL FAR: 6
MAX ALLOWABLE FACILITY FAR: 6.5
PROPERTY CHARACTERISTICS: Lot Area: 9,666 sq ft (125.08′ x 100′)
The proposed 210-foot-tall development will yield 62K square feet, with
49, 600 square feet designated for residential space and 5,500 square
feet for commercial space. The building will have 29 residences, most likely condos based on the
average unit scope of $1,500 / $2,300 square feet approx . The concrete-based structure will also have a cellar and a 30-foot-rear yard.

SOHO DEVELOPMENT SITE PRESENTATION DISCLAIMER
This Offering Memorandum has been prepared by Brixton Manor Real Estate regarding the purchase of the property described herein at Soho, New York (the “Property”). The materials and information
contained in this Offering Memorandum do not purport to be all-inclusive or to contain all of the
information which prospective investors may need or desire. All materials have been developed by Brixton Manor Real Estate and other sources and are subject to variation and withdrawal. No representation is made by Brixton Manor Real Estate as to the accuracy or completeness of the information contained herein and nothing contained herein is or shall be relied on as a promise or representation as to the future performance of the Property.

Although the information contained herein is believed to be correct, Brixton Manor Real Estate and its
respective principals and employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Brixton Manor Real Estate and its respective principals and employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the recipient. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the Property since the date of the preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum is solely the responsibility of the prospective purchaser. Additional information and an opportunity to inspect the Property will be made available upon request to interested and qualified investors.

Basic Details
Property Type : New Development
Listing Type : For Sale
Listing ID : 1030
Price : $35,000,000
View : Street
Bedrooms : 0
Bathrooms : 0
Half Bathrooms : 0
Square Footage : 0 Sqft
Year Built : 0
Lot Area : 0 Sqft
Country : United States
Neighborhood
Neighborhood : Soho
New Development For Sale
  • Listing ID : 1030
  • Bedrooms : 0
  • Bathrooms : 0
  • Square Footage : 0 Sqft
$35,000,000
Agent info
Guiddalia Emillen
Guiddalia Emillen
Contact Agent