Cushman & Wakefield has been appointed by the Estate of Walter De Maria to market 419-421 East 6th Street in the East Village neighborhood.
The offering includes a 16,400 s/f loft-style building and vacant lot. It offers 15,400 s/f of additional air rights, or a combined total buildable area of nearly 32,000 s/f of FAR for residential and/or community use.
The existing 16,400 s/f loft building can also accommodate commercial use.
The building at 421 East 6th Street is a 4-story 16,400 s/f property originally constructed in 1920 as a Con Edison substation.
The unimproved parcel at 419 East 6th Street, when combined ,provides a total lot size of approximately 7,950 s/f. The site’s foot print allows for the potential for scarce city amenities like private outdoor space and onsite parking.
Since 1980, the property has served as the live/work studio of the late Walter De Maria, one of the most celebrated artists of the 20th century.
His work can be found on display throughout the world. Many of the artist’s finest works were conceived and created at 421 East 6th Street.
The property is located within the East Village Historic District, and at approximately 85 feet tall, the building offers views of the surrounding area and New York City skyline, including the Empire State Building and the Williamsburg Bridge.
The property could be used for a range of commercial uses, or be redeveloped for residential use, either as a single-family home, exclusive condos or a mix of both.
A Cushman & Wakefield New York Capital Markets team of Helen Hwang, Nat Rockett, Karen Wiedenmann, Carri Lyon and John LiGreci are marketing the property.
“This property has been a hidden gem known largely only to East Village area residents for years,” said Helen Hwang, executive vice president at Cushman & Wakefield.
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