Bankruptcy Sale: 1580 Nostrand Avenue

Description:

The Property known as “1580 Nostrand”, is comprised of a vacant lot located at 1580 Nostrand Avenue, and an existing building located at 21 East 29th Street.

Bid Deadline: Friday, April 4th, 2025 at 5:00 PM
Auction Date: Monday, April 7th, 2025 at 2:30 PM
Opening Bid: $57,000,000

Property Snapshot
1580 NOSTRAND AVE
• Development site / vacant lot
• 186,784 SF of Total Allowable ZFA
• 145,378 SF of Allowable Residential ZFA
• Remaining ZFA (up to 41,406 SF) available for Community Facility use
• 216 Allowable Units

21 EAST 29TH STREET
• Building featuring 94 residential units
• 73,216 SF of Total ZFA
• 65,872 SF of Residential ZFA
• 7,344 SF of Community Facility ZFA
• Floor through apartments with large terraces in front and back
• Triple paned windows and doors

Total Allowable Zoning Floor Area……………………………………………… 260,000 SF
Total Allowable Residential Units………………………………………………………310 Units