Prime East Village Boutique Development Site | Condo or 485-x Rental

Description:

Ariel Property Advisors presents 617 East 6th Street, a prime 24.83’ wide development site between Avenues B and C in Manhattan’s East Village.

THE ASSET
R8B zoning site provides 9,025 BSF as-of-right (4.0 FAR) and up to 10,830 BSF via the Universal Affordability Preference (UAP) program (4.8 FAR). This 2,256 sq. ft. parcel is currently improved by a one-story commercial garage, and will be delivered vacant.

THE LOCATION
Located in a high-demand East Village enclave, the property benefits from strong boutique residential momentum, evidenced by nearby projects at 619 and 650 East 6th Street. Residents will enjoy close proximity to the East River Park waterfront, as well as convenient transit via the F train at Houston Street (0.6 miles) and nearby M14A-SBS and M8 bus lines.

617 East 6th Street sits directly on the same block as standout dining spots like Nowon, Buenos Aires, and Pineapple Club. Renowned nightlife and culinary destinations—from world-class cocktail dens like Death & Co to neighborhood staples like Mona’s and Tuome—are all located within a brief 1-to-3-minute walk.

THE OPPORTUNITY
• Boutique Condominium: Allows for an efficient, limited-unit floor plan. Local demand is proven by the adjacent 61
• 485-x Rental Development: Surging residential rents make this an attractive boutique rental opportunity for developers who utilize the 485X tax abatement.

THE CONCLUSION
Given significant supply constraints in the East Village, 617 East 6th Street represents a premier opportunity for boutique developers, contractors, and family offices.

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