Polsinelli of Eastern Consolidated Marketing Prime Corner Development Site Directly Across from Union Square Park
NEW YORK, NY –– February 1, 2018 –– Eastern Consolidated’s Adelaide Polsinelli is exclusively marketing for sale 34 Union Square East, a development site that offers a ±26,000-square-foot zoning floor area for a mixed-use building on the last remaining corner development site on Union Square Park. The asking price is $31 million.
“This offering presents an opportunity for developers to acquire an extremely rare development site on the southeast corner of East 16th Street and Union Square East directly across the street from Union Square Park,” said Polsinelli, Senior Managing Director and Principal at Eastern Consolidated. “The site benefits from corner visibility, park views, easy access to all transportation, steps from the 14th Street-Union Square train station, Manhattan’s fourth busiest subway hub.”
The property is currently improved with a vacant, ±6,500 square foot, two-story commercial building. With ±19,500 square feet of unused development rights, the property offers 26-feet of frontage on Union Square East and 125-feet of frontage on 16th Street.
Union Square, a thriving hub of food, fashion, culture and cutting-edge businesses is home to over 70,000 residents, 150,000 employees, 60,000 students, nearly 344,000 daily visitors.
Annually 34 million subway riders pass through the 14th Street-Union Square station where the L, N, Q, R, W, R, 5, and 6 subway lines converge.
Gary Meese, Senior Director, Financial Services, is the analyst for the offering.
Powered by a highly skilled team of over 100 brokers with a fluency in 15 languages, Eastern Consolidated is one of the country’s preeminent full-service commercial real estate firms. Through three core divisions—Investment Sales, Capital Advisory, and Retail Leasing—Eastern Consolidated serves an impressive roster of international and domestic institutional and private investors on real estate transactions of all sizes and across all property types. For more information, visit www.easternconsolidated.com and follow us on Twitter@EasternConsol.
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