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    CB4 Manhattan Ave New York, NY 10036

    Sponsored
    For Sale
    Contact for pricing

    Prime Manhattan air rights for sale.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This offering presents a unique opportunity to acquire approximately 6,000 buildable square feet of inclusionary air rights (IARs) in Manhattan's Community Board 4. These air rights are ideal for developers seeking to expand the size of market-rate developments. Eligible receiving properties must be located within Community Board 4 or within a half-mile radius of 540 West 53rd Street. The permitted zoning for eligible receiving sites includes R10, C2-8, C4-7, C6-4, or C6-5 districts, or Inclusionary Housing Designated Areas. For instance, properties zoned R10 could see their Floor Area Ratio (FAR) increase from 10.0 to 12.0, significantly enhancing both the floor area and overall value of the development. This presents a substantial advantage for developers aiming to maximize their project's potential. The 6,000 square foot parcel offers a significant opportunity to increase density and profitability for eligible projects in a prime Manhattan location. The precise location of the generating site is 540 West 53rd Street, New York, NY 10036. This offering is for the air rights only; no underlying land is included. Interested parties should verify their property's eligibility for inclusionary air rights and confirm zoning compliance before making an offer.

    Property Features for CB4 Manhattan Ave

    General Information

    Property type
    Land

    HighLights

    • 6,000 square feet of inclusionary air rights (IARs) for sale in Manhattan's Community Board 4.
    • Eligible for properties in CB4 or within a 0.5‑mile radius of 540 West 53rd Street.
    • Applicable zoning districts for receiving sites include R10, C2‑8, C4‑7, C6‑4, or C6‑5.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9915613
    Latitude
    40.7575867

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    FAQs

    What type of property is this?
    Land - Prime Manhattan air rights for sale.
    Where is this land located?
    The property is located at CB4 Manhattan Ave New York, NY.
    What are key features of this property?
    This property features: 6,000 square feet of inclusionary air rights (IARs) for sale in Manhattan's Community Board 4.; Eligible for properties in CB4 or within a 0.5-mile radius of 540 West 53rd Street.; Applicable zoning districts for receiving sites include R10, C2-8, C4-7, C6-4, or C6-5.
    (212) 544-9500
    Request Owner's contact information
    CB4 Manhattan Ave New York, NY 10036
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    CB4 Manhattan Ave New York, NY 10036
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