Friday, January 13, 2012

An L-Shaped footprint ready to make its impression on East Houston Street

In late November, the Mystery Lot of East Houston Street (the empty parcel on the south side of the street between Attorney and Ridge) hit the market, per The Lo-Down. The lot is going for $9.5 million.

Now, it appears more development is in the works for this stretch of Houston... The long-empty adjacent space is now for sale — at $4.6 million.

Here's the listing via Massey Knakal:

The subject property consists of 331 E Houston Street and 161 Ridge Street. 331 E Houston Street is a single story commercial building and 161 Ridge Street is a vacant parking lot. Together, the properties create an L-Shaped footprint with 25’ of frontage on E Houston Street and 20’ of frontage on Ridge Street. The lots have a combined footprint of 3,000 square feet and are located in the newly designated East Village/Lower East Side zoning district which is zoned R8A*. This zone provides an FAR of 5.4 for Residential use, 7.2 with inclusionary housing and 6.5 for Community Facility use which translate to a maximum buildable square footage of 16,200 BSF, 21,600 BSF, 19,500 BSF, respectively. Furthermore, the two lots are adjacent to two 25’ vacant lots on E Houston Street.

So. Combine all this and what do you get?

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