Former Jones Diner Site on Lafayette Could Fetch $35M

Posted on: January 29th, 2015 at 5:10 am by
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May the Jones Diner rest in peace.

Known for its intrusive advertecture in recent years, the vacant lot is now on the open market. The 5,500 square-foot sliver of land at the corner of Lafayette and Great Jones Street (aka 363 Lafayette) is the latest “development site” in an area too rich for its britches. It reportedly boasts 32,000 buildable square-feet.

Olmstead Properties, which has owned the site since the 1940s, previously planned a mixed-use building in 2007 (and had a zoning variance), but those plans ultimately fizzled in the interim.

Price sought for the swath of land is something in the neighborhood of $35 million, or $1,100 per buildable square foot. Meaning, the buyer could dump six to eight stories of luxury on the spot, depending on whether variances are approved by the city (the parcel sits in the landmarked NoHo Historic District). The property carries 200 feet of frontage along Lafayette Street, roughly 50 feet on Great Jones, and 6 feet on Bond.

The onetime local favorite Jones Diner met its maker in September 2002.

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Jones Diner in 1977, Photo: Art Flux

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