Avison Young, as the exclusive agent, is pleased to offer for sale two adjacent vacant commercial buildings at 307–309 Avenue of the Americas (“the Property”). The Property has significant redevelopment potential and features a combined 43± feet of street frontage and 6,759± square feet of lot area.
307-309 Avenue of the Americas offers a potential investor the opportunity to acquire an irreplaceable asset with several potential development options. The Avenue of the Americas address, proximity to transportation and the NYU campus makes the Property’s location ideal for residential, commercial and community facility uses. Nearby local educational institutions including The New School, Pace University, Yeshiva University and New York University could make use of the community facility development potential that the Property has to offer. As a residential development, the Property can deliver a total of 20,181± zoning floor area. The commercial overlay on the property allows 8,566± zoning floor area of commercial development. Leveraging a higher FAR as a community facility development, the Property allows a maximum of 39,725± zoning floor area, making the site a sizeable opportunity.
The West Fourth Street – Washington Square Station is conveniently located across the street, providing access to the A, B, C, D, E, F and M trains. Washington Square Park is one block away, and Father Demo Square is across the street, providing the property with great visibility and high pedestrian traffic.