Cushman & Wakefield has been retained on an exclusive basis to sell 347 East 4th Street. The building is on the north side of East 4th Street between Avenues C and D in the East Village. Currently, there is a 3-story community home with offices in the cellar and ground floor and 4 units on the upper two floors. The neighboring property to the east previously bought air rights from this property (3,008 SF), but 347 East 4th retained any remaining or future development potential. December 2008 (after the air rights transfer) NYC announced a blanket rezone of the area, and thus the maximum allowable floor area increased for residential development (FAR changed from 3.44 to 4.0). Approximately 2,244 SF air rights remain, assuming the lower level (8 steps down) is excluded from the zoning calculation. This should be confirmed by an architect. The ceiling height on the ground floor is 8 feet and the upper floors are 10 feet. The building is perfect for a community facility user or can easily be converted into a townhouse, apartment building or live plus income property.
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
