16-18 Maiden Lane

Cushman and Wakefield has been retained on an exclusive basis to arrange for the sale of 16-18 Maiden Lane and 8-10 Liberty Place. The adjacent properties are located on the corner of Maiden Lane and Liberty Place. Both properties are five stories and contain a combined 8 residential units and 2 commercial units. The site consists of two adjacent mixed-use properties along Maiden Lane and Liberty Place. Under the current C5-5 zoning designation, the combined 1,918 square foot lot has a commercial FAR of 15, which translates into approximately 28,770 square feet of total development rights, representing a unique opportunity for investors who are looking to develop a property in a thriving neighborhood. Both of the commercial units have demolition clauses and all of the residential leases expire within a year. The Lower Manhattan sub-market has reemerged as one of the most sought after areas of the city due to a multitude of recent developments. The redevelopment of One World Trade Center and creation of the new Fulton Street Transit Hub will greatly impact future commercial, retail, and hospitality growth. Tourism growth has reached new levels in Lower Manhattan and is only expected to increase as additional developments reach completion in the coming years. Furthermore, the property is easily accessible through public transportation. The newly developed Fulton Center, just two blocks away, provides unparalleled access to all of the major subway lines including the A, C, J, Z, 2, 3, 4 & 5 trains along with the PATH Train. As such, the site offers a tremendous opportunity for a developer to capitalize on the insatiable demand for luxury condominiums in one of Manhattan’s most desirable neighborhoods.