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Property Overview
Price/Rent PSF $ 2,500,000.00
Asset Type Land
Trade Type Sale
Acres Available INQUIRE
Date Available 05/20/2017
Search Demographic Data Explore financing options
Description

The following information was given to us by Architect. But buyer must verify it. Seller doesn't guarantee it. The site has been zoned to R7x w/MIH (Mandatory Inclusionary Housing). Cannot develop the site without providing the inclusionary housing. The base FAR is 3.75 and can go up to 6.0 Hence Project Square footage shall be: Lot Area: 7,361.70sf Max. Allow Fl. Area: 44,170.20sf Quality Housing Deductions: 1,500sf Recreational Room: 1,450sf Mechanical Deductions: 1,000sf Cellar: 7,300sf Rooftop Mech, bulkheads...etc: 1,500sf Total Gross sf: 57,000sf Since the project has to be MIH---- the regulatory & Compliance requirements are much greater and the process is also a bit longer for approval. HPD approves the housing plans, approves the increase in FAR for DOB to act on it. 65 units allowed by zoning - Parking will be required beyond 50 units. We can provide parking in cellar with a slight extra excavation and then provide 2-car lifts (pretty in expensive) w/attendant parking

Location

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