156-164 Delancey Street

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 156-164 Delancey Street. The subject property features 109’ of frontage on Delancey Street at the foot of the Williamsburg Bridge on Manhattan’s Lower East Side, directly across the street from the newly approved Essex Crossing. The subject property is currently improved by a one story commercial building built full on the approximately 109’ by 25’ lot. Under the existing R8A/C6-2A zoning with a C1-5 overlay, a developer could build up to approximately 14,715 square feet as-of-right or approximately 19,620 square feet through utilization of the optional Inclusionary Housing Bonus. The C1-5 overlay allows for up to 2.0 FAR for commercial use, providing potential purchasers the opportunity to construct valuable retail space that will benefit from the tremendous frontage on Delancey Street and heavy foot and vehicle traffic from both Essex Crossing and the Williamsburg Bridge. 156-164 Delancey Street is located in the heart of the Lower East Side, one of New York City’s most dynamic neighborhoods featuring a wide array of the city’s best shopping, dining, and nightlife options. The neighborhood has undergone rapid transformation in recent years and has attracted a younger population drawn to the area’s new developments. The most exciting new development coming to the Lower East Side is Essex Crossing, a mixed-use project that will feature 1.9 million square feet of residential, commercial, and community space situated on six acres directly across Delancey Street from the subject property. In addition to office space and 1,000 residential units, Essex Crossing will feature unparalleled amenities including shops, restaurants, a movie theater, park space, and cultural attractions. Essex Crossing is set to transform the neighborhood into a major New York City destination, providing an incredible opportunity for potential purchasers of 156-164 Delancey Street to capitalize on the immediate area’s growth. This exceptional development opportunity benefits from easy accessibility from the rest of the city and greater New York metro area. The Williamsburg Bridge, whose entrance is located directly in front of the subject property, provides quick and easy access to Brooklyn. Additionally, the F, M, J and Z trains located just two blocks west of the property offer immediate access throughout Manhattan, Brooklyn, and Queens and serve over 7 million riders annually.