Listing Agency: Ariel Property Advisors Show Phone

Listed By: Michael Tortorici · License #NY 401085153

Source: Crexi

Added: Oct 1, 2022 Changed: Aug 21 Last Checked: Aug 21 at 3:54PM

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Investment Insights

Based on property information with market context.

Approximately 6,000 square feet of inclusionary air rights are available in Manhattan’s Community Board 4. This offering allows owners of eligible properties to increase the size of market rate developments located in Community Board 4 or within a 1/2 mile radius of the generating site at 540 West 53rd Street. Properties located in a R10 or equivalent zoning district can increase their FAR from 10.0 to 12.0. Only properties that meet the IAR requirements in Manhattan’s Community Board 4 or within a 1/2 mile radius of the generating site are eligible receiving sites. Eligible receiving sites are located in either R10, C2-8, C4-7, C6-4 or C6-5 zoning districts or in Inclusionary Housing Designated Areas.

Key Highlights

• Opportunity to increase Floor Area Ratio (FAR) from 10.0 to 12.0 in eligible R10 or equivalent zoning districts.
• Approximately 6,000 square feet of Inclusionary Air Rights (IARs) available.
• Located in Manhattan’s Community Board 4.

Property Analytics

Property Profile

Current Use

Commercial land

Suggested Use

Top Pick Law Firm Real Estate Agency Auto Repair Shop Hair Salon Big Box & Wholesale Store Spa & Massage Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

12,013

Businesses Nearby

Explore this area Business Placement

Demographics for 10036, NY

33,868

Population

22,473

Households

1.5

Avg Household Size

37

Median Age

69%

College-Educated

93%

High-School Grad

0.4 sq mi

ZIP Area

84,670

Density / Sq Mi

$100,225

Median Household Income

$86,122

Median Earnings

$2,301

Median Rent

$988,000

Median Home Value

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Frequently Asked Questions

What type of property is this?

Commercial land - 6,000 SF inclusionary air rights in Manhattan's Community Board 4.

Where is this commercial land located?

The property is located at CB4 Manhattan New York, NY.

What are key features of this property?

This property features: Opportunity to increase Floor Area Ratio (FAR) from 10.0 to 12.0 in eligible R10 or equivalent zoning districts.; Approximately **6,000 square feet of Inclusionary Air Rights (IARs) available.**; Located in Manhattan’s Community Board 4.