617 E Sixth St - Parking Lots & Garages FOR SALE


New York, NY 10009- Alphabet City
$3,450,000 USD
212-257-1813
617 E Sixth St, New York, NY for Sale
$3,450,000 USD
Parking Lots & Garages - FOR SALE
1/5
null | Request Cap Rate

617 E Sixth St
New York, NY 10009
Alphabet City


HIGHLIGHTS

  • Delivered vacant, providing immediate redevelopment potential.
  • R8B zoning allows up to 9,025 buildable square feet as-of-right.
  • UAP program may increase development capacity to approximately 10,830 buildable square feet.
  • Positioned on a 24.83-foot-wide lot between Avenues B and C in the East Village.
  • Supports boutique condominium or 485-x rental development strategies.
  • Located near East River Park, neighborhood dining destinations, and public transit connections.

OVERVIEW

Prime East Village Location: 24.83’ wide, 2,256 SF lot on a quiet residential block. Flexible Development Scale: R8B zoning allows 9,025 BSF as-of-right, up to 10,830 BSF via UAP. Favorable Basis: $3.45M asking ($382/BSF Standard / $319/BSF UAP) vs. $395/BSF comp average exposure. Dual Project Potential: Ideal scale for a boutique condo or 485-x rental. Proven Local Exit: Directly adjacent to 619 E 6th St, which achieved $1,963/SF condo sellouts. Manageable Equity: Low total capitalization required compared to larger Manhattan sites. Neighborhood Momentum: Adjacent to new developments and the East River Park (ESCR) project. Delivered Vacant

FOR SALE DETAILS

PRICE

$3,450,000 USD

PRICE/SF

$1,528 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Parking Lots & Garages

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1964

SPRINKLERS

-

PARKING SPACES

5

LAND DETAILS

LAND ACRES

0.05 AC

LAND SF

2,258 SF

ZONING

R8B

APN/PARCEL ID

0389-0052

ASK ABOUT THIS PROPERTY

Michael TortoriciAriel Property AdvisorsMore Info
212-257-1813

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Michael TortoriciAriel Property AdvisorsMore Info
212-257-1813

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.