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?