The property, 527-531 West 36th Street, has 44,698 buildable square feet of development rights. The existing site consists of a 75’ x 97’, two-story garage building that is approximately 14,700 square feet. The tenants pay approximately $425,000 per year in rent.
This property will eventually be acquired by the Hudson Yards Development Corporation for the Hudson Park and Boulevard. According to the revised zoning text, the Air Rights are transferable to any other property in the Phase II area located between 10th and 11th Avenue from 33rd Street to 42nd Street. These Air Rights are not constrained by Inclusionary Housing restrictions, unlike Air Rights sold by the city.
The asking price for this property is $10,000,000.
For more information about this property, please contact or Clint Botway at (646) 253-0930, firstname.lastname@example.org or Richard T. Guarino at (646) 253-0909. His email is email@example.com
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