650,000 bsf development site on the ......max r6 far with 7.5% ih bonus 6.50 max r8 far with 20% ih...
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650, 0 0 0 BS F DEVELO PMEN T SITEON T H E G RE E N PO IN T WATERF RON T
DISCLAIMERAlthough information has been obtained from sources deemed reliable, neither Owner nor JLL makes any guarantees, warranties or representations, express or implied, as to the completeness or accuracy as to the information contained herein. Any projections, opinions, assumptions or estimates used are for example only. There may be differences between projected and actual results, and those differences may be material. The Property may be withdrawn without notice. Neither Owner nor JLL accepts any liability for any loss or damage suffered by any party resulting from reliance on this information. If the recipient of this information has signed a confidentiality agreement regarding this matter, this information is subject to the terms of that agreement. ©2019. Jones Lang LaSalle IP, Inc. All rights reserved
INDIA STREET
JAVA STREET
WES
T ST
REET
R6/C
2-4
R6R6R8
Upl
and
R8 U
plan
dR8
Pie
rs
BLOCK 2538LOT 1 Bu
lkhe
ad
Pier
head
50’
30’
200’
125’ 150’
180’
292.8’
380.3’
575.6’ 584.5’
215.4’
59,382 SFZoned R8 Upland
385,982 BSF
19,820 SFZoned R8 Piers
107,446 BSF*
25,000 SFZoned R6
68,750 BSF
30,000 SFZoned R6/C2-4
82,500 BSF
Site Schematic
PARCEL R8 PIERS R8 UPLAND R6 R6/C2-4 ENTIRE SITE
Lot SF 19,820 SF 59,382 SF 25,000 SF 30,000 SF 134,202 SF
Base FAR 4.88 4.88 2.43 2.43 -
Max FAR 6.5 6.5 2.75 2.75 4.80 Blended
Max BSF 107,446 BSF* 385,982 BSF 68,750 BSF 82,500 BSF 644,678 BSF
* Although Piers generate 128,839 BSF (6.50 FAR), the maximum FAR that may be transferred to upland portion may not exceed 20% of the maximum FAR of the entire upland site
Zoning Lot Breakdown
jll.com
28 Liberty Street, Suite 3000New York, NY 10005
Development HighlightsRARELY AVAILABLE LARGE-SCALE WATERFRONT DEVELOPMENT SITEWith a massive 134,000 SF footprint, mixed zoning designations, and FAR up to 6.50, the asset offers unique large-scale conversion or ground-up development possibilities
OPPORTUNITY FOR INCREASED SCALESite is eligible for purchase of CB1 off-site inclusionary air rights
FULL CITY BLOCKGenerous 1,174 feet of wrap-around high visibility frontage ideal for retail development. Site also benefits from multiple curb cuts along India Street and Java Street
MULTIPLE TAX BENEFITSVoluntary Inclusionary Housing Brownfield Cleanup Tax Credits, ICAP & FRESH
Inviting Inclusionary Housing tax incentive on the property
Location HighlightsPROTECTED WATERFRONT VIEWSThe property is located directly on the East River and overlooks Manhattan, securing unparalleled views for future residents.
TRANSIT ORIENTED2 blocks to the Greenpoint Avenue g train - access to LIC, Southern points of Brooklyn, and Manhattan via the 7 and l lines
India Street East River Ferry Terminal adjacent to the property - access to LIC, DUMBO, Wall St, Murray Hill
2 blocks from the B24 and B32 bus route - Williamsburg Bridge to LIC
2 blocks from the proposed BQX streetcar route connecting Astoria and Sunset Park
Market HighlightsEXPANDING DEVELOPMENT7,000 new residences in the pipeline along Greenpoint-Williamsburg waterfront will further contribute to growing foot traffic and sustained demand for new amenities, work space and convenient retail
THRIVING RETAILImmediate area is a popular destination for tourists and locals alike with four hotels, nationally recognized brand name retailers and dozens of popular restaurants, bars and nightlife hotspots
Flood ResiliencePOTENTIAL FAR ALLOWANCE DUE TO FLOODPLAIN DESIGNATIONMore than half of the upland parcel is within a 100-year floodplain with the remainder located within a 500-year floodplain. Design flood level is ±15.9 feet and groundwater elevation is ±8 feet below sidewalk grade. This designation may allow for substantial FAR allowance in accordance with flood-resistant construction standards:
• 10,000 BSF of commercial space can be included as additional FAR
• 100,000 GSF can potentially be added for non-residential uses i.e. amenity, lobby and recreational
All information presented herein is subject to change and should be independently verified.
134,202 SFTotal Site Footprint 114,382 Upland Parcel + 19,820 Piers Lot
200’ x 584.5’Upland Lot Parcel DimensionsIrregular
2538/1Block / Lot
2.75Max R6 FAR With 7.5% IH Bonus
6.50Max R8 FAR With 20% IH Bonus
R6/C2-4, R6, R8Zoning Designation
644,678 BSFMaximum Development Potential Includes transferred air right from piers
VIH, BCP, ICAP, FRESHEligible Tax Benefits Voluntary Inclusionary Housing Brownfield Cleanup Program Industrial & Commercial Abatement ProgramFood Retail Expansion to Support Health
jll.com
28 Liberty Street • Suite 3000 • New York, NY 10005
For further information, please contact exclusive agents:
Stephen PalmeseVice Chairman212 915 7233
Brendan MaddiganVice Chairman212 915 7234
Winfield CliffordManaging Director
212 915 [email protected]
Michael MazzaraManaging Director
212 915 [email protected]
Ethan StantonManaging Director
212 915 [email protected]
Patrick MadiganVice President212 915 7241
FINANCING:
Christopher PeckManaging Director
212 632 [email protected]
Peter RotchfordSenior Driector212 632 1822