East Houston Parcel Listed for $15M, Touted as ‘Prime’ Development Opportunity

Posted on: February 28th, 2014 at 6:02 am by
This image has been archived or removed.

Rev up those bulldozers.

You knew this was coming. A spacious lot (with generous air) at the southwest corner of East Houston and Clinton Streets is primed for some upscaling. At the moment, 287-291 East Houston is home to a two-story office for an accounting firm and an adjacent private parking lot (with garage door and cut curb). However, that will change pretty soon. Massey Knakal is now hawking the three-parcel site as a “prime” development opportunity.

It’ll cost you $15 million to acquire the 50×100 lot, which allows for approximately 27,000 buildable-square-feet and 120-foot height (as of right). If inclusionary housing is part of the formula, the development could be larger. Here’s the nitty gritty:

A 50’ x 100’ development site on the south side of East Houston Street. The lot footprint is approx. 5,000 SF and is in a R8A* zone. R8A* has a Commercial FAR of 2.00, Residential FAR of 5.40, Community Facility FAR of 6.50 and Inclusionary Housing FAR of 7.20. The site would allow for approximately 36,000 BSF based on a development that incorporates inclusionary housing (FAR of 7.20). Alternatively, the site would allow for approximately 27,000 BSF and 120’ in height based on a residential development of market housing (FAR of 5.40).

The property has a curb cut in place as well as a 25’ x 100’ single story building (2,500 SF with mezzanine) which can be delivered vacant at the time of sale. 287-291 East Houston Street would be ideal for a retail and residential rental or condominium development. A Foundation Engineering and Subsurface Exploration Report are available upon request. The site has a transferable Green Building project registration under LEED NC 2.2.

The gold rush keeps moving eastward…

This image has been archived or removed.

Photo: Massey Knakal

Recent Stories

Teenager Arrested in Connection with Essex Card Shop Fire on Avenue A

A teenager has been arrested in connection with the alarm fire that destroyed the Essex Card Shop at 47 Avenue A last week. EV Grieve first confirmed the news yesterday. Charges against the 13-year-old – whose name was withheld due to his age – include second-degree arson. Officials told the blog that that the arsonist […]

Woman Dies Month After Being Hit by School Bus in Chinatown

A pedestrian struck by a school bus in Chinatown last month has succumbed to her injuries. On December 16, at approximately 1:45pm, 67-year-old Ahhon Lau was struck in the intersection of Monroe and Catherine Streets. When officers arrived at the scene, Lau was found unconscious and unresponsive, with trauma about the body. EMS transported her […]

Brooklyn Fare Market Makes it Official at One Manhattan Square

Brooklyn Fare Kitchen & Market officially announced its Lower East Side entrance with banner advertising at One Manhattan Square. The vinyl skins are now in the windows along Cherry Street, advertising free delivery and fresh produce. As previously reported, the upscale grocer signed a lease to occupy 25,500 square-feet across two floors in the base […]

Crab du Jour Goes Down After a Year on Grand Street

Crab du Jour, the ubiquitous franchise selling Cajun-style seafood, closed its Lower East Side location earlier this month. The shutter comes exactly one year after the fast-food spot first opened at 384 Grand Street. Several readers alerted us to the closure, noting that the restaurant hasn’t been open the last several days. Moreover, customers can […]

Former Red Square Retail Demolished for New Development

Nearly six years ago, the Dermot Company purchased the former Red Square for $100 million from Michael Rosen. The residential complex was further upscaled in the interim, and whitewashed into submission. The $100 million deal included space in the adjacent one-story retail. What largely went unnoticed at the time, though, is that the Rosen family […]