The empty lot along the east side of Second Avenue between Second Street and Third Street, the site of an abandoned development project, is now on the market.
Avison Young has the listing for the lot — billed as a "redevelopment property" for "multifamily development."
Per Avison Young:
The Property currently exists as a vacant lot and owners have purchased offsite inclusionary air rights for the proposed construction of 136,199 gross square feet, including 13,750 square feet below grade. The Property features a curb cut on East 2nd Avenue for on-site parking.
The resulting above-grade gross square footage reconciles to 122,449 square feet. The Property is planned to feature a rooftop deck and units with sweeping views of Manhattan and the Hudson River, ~10-foot ceilings throughout and abundant light and air on all four sides due to its corner location joined at the junction of East Second Street and Second Avenue.
42 Second Avenue presents a true, expansive development opportunity with a prime NoHo / East Village address. The scale and location of the Property offer the blank canvas for a premier mixed-use, commercial or residential condo project.
The listing, which does not mention the asking price, includes this rendering showing the potential ...
As previously reported (first here), there were approved work permits for an 11-floor mixed-use building on the site of a former three-building parcel.
Gemini Rosemont Development was behind this 100,568-square-foot new building ... the development, using 42 E. Second St. for its address, included 88 residential units and 9,600 square feet for retail.
However, those plans are obviously officially dead as the city moved to revoke the permits. In August, The Real Deal took a deep dive into what happened:
All that stood in Gemini's way was a small-time landlord next door. Robert Proto, however, proved to be a big-time problem.Proto made unceasing calls to officials for weeks, triggering an audit by the Department of Buildings that found code and zoning issues that had initially slipped past the agency.
In 2020, Gemini Rosemont spent more than $50 million to assemble the development ... buying the former La Salle annex at 38 Second Ave. and Second Street. The $14.5 million purchase of the four-story building was the third of three contiguous plots they acquired. The Los Angeles-based commercial real estate investment company closed on 42-44 Second Ave. and 46-48 Second Ave. (the former Church of the Nativity) in March 2020 for $40 million.
The new owners may want to consult with Robert Proto on the project.
12 comments:
I applaud Robert Proto, local hero. Also dread the the thought of enduring construction of what I sadly and cynically think will be an ugly glass and steel box of high priced apartments for rich transients. Don't forget the Catholic church originally owned a chunk of this land and could of sold it to a nonprofit.
Good luck getting that sweeping view of the Hudson from "East 2nd Ave."
"The new owners may want to consult with Robert Proto on the project."
Alternatively, they could conform with the building code instead of violating it. Just a suggestion!
Needs to be a Law .. all new buildings from 2023 2033.. all studios .. what young people want is to live alone! No more luxury! Basic studios
Go Robert Proto go!
We need an interview with Robert Proto!!
I hope this sells quickly and gets developed quickly in a way that doesn’t hurt the building next door. Anything is better than a vacant lot but housing would be the best.
Neighbor, Totally fine with the vacant lot. We get fresh air and light instead of months if not years of construction and a basic glass luxury box that gives nothing back to the neighborhood.
Must be nice to be so privileged to think that your desire for light trumps housing for others. What a ridiculous comment
Public/Charter Middle school much needed.
It creates more tax revenue. Which people don’t seem to understand. Which is very much needed. Especially since nobody goes to the office.
Completely agree
Post a Comment