● cushman & wakefield
FiDi waterfront site offers chance to make big splash
Cushman & Wakefield has been appointed by Maiden Lane Development LLC to market a development site at 151-161 Maiden Lane, on the FiDi waterfront.
The site can take 249,242 s/f of development of apartments, offices, retail and, or, hotels or a combination of them all. The site is comprised of two contiguous lots, has no height restrictions and allows a developer the choice of either a single mixed-use tower or two individual developments, according to Helen Hwang of the C&W Capital Markets team.
151-161 Maiden Lane spans an entire block and is bounded by Maiden Lane, South Street, Fletcher Street and Front Street.
It is a neighbor of the South Street Seaport where Howard Hughes Development will begin a major redevelopment in the fall.
“The offering comes to the market at the perfect time to take advantage of the area’s dynamic resurgence and a booming residential market,” said Hwang, whose team includes Nat Rockett, Steve Kohn, Jared Kelso, John LiGreci and George Giannopoulos.
Jesuits sell Staten Island
The New York Province of the Society of Jesus is in contract to sell its Mount Manresa Jesuit Retreat House in Staten Island to developers for $15 million.
The property at 239 Fingerboard Rd., in the Fort Wadsworth section of Staten Island, is being purchased by locally-based Savo Brothers.
“We’re honored to assist in the vision of the Jesuits,” said Michael Savo, vice president of the family owned and operated business that bears his name.
“We are very sensitive to the beauty of the site and the structures at the location. Our goal is to ensure the property is handled in the most respectful, sensitive and sensible way.”
The Jesuits decided to sell the property when it was determined that the needs of many people, especially the young, were not being met by an exclusively retreat-center approach.
Many are reluctant to come to a residential retreat house, and many simply can’t afford the kind of money living in a retreat house costs, the Province said.
“Prayer and meditation can take place anywhere, and a special house is not an essential element,” said Fr. Vincent Cooke, S.J., a Jesuit spokesman. “The first Jesuits, the immediate followers of St. Ignatius, gave the Spiritual Exercises to people where the people lived and worked.”
● eastern consolidated
Flushing site for sale
A 2.6-acre lot (116,156 s/f) triangular parcel at 131-02 40th Road in Flushing, Queens — a site capable of accommodating a 550,000 s/f, mixed-use development — has just hit the market exclusively through Eastern Consolidated priced at $37 million.
Alan P. Miller, Ety Lee and Gary Meese are promoting the sale of the downtown Flushing site, whose northern boundary abuts Sky View Parc, a recently- constructed one million-square-foot mixed-use retail and residential development.
The seller is Flushing Point LLC, a large property owner with vast holdings in the neighborhood.
“The site’s strategic location in Flushing, one of the fastest growing submarkets in New York City because of a burgeoning Asian population and excellent transportation connections to Manhattan, has already piqued the interest of the investment community,” said Miller.
“Currently, the parcel is occupied by month-to-month or short term tenants leasing either yard or billboard space, all leases have demolition clauses, and there is an annual income of $1.25 million,” added Lee.
● cushman & wakefield
200 acres of Long Island
on the market
Cushman and Wakefield has partnered with Long Island’s largest landowners, Robert and Isaac Toussie, to begin marketing over 200 acres of vacant commercial and industrial land spanning the towns of Brookhaven and Islip.
The land tracts are in different stages of development. Some have all the road and sewer infrastructure installed and some are untouched but boast subdivision grants.
The team will be offering the full range of development services including build-to-suits, straight land sales, joint ventures, and can accommodate large or small buildings as the properties range from 73 to one acre .
Said Ted Stratigos, executive director leading the leasing and sales team, “In addition to the strategic locations, Brookhaven IDA can offer incentives on the larger parcels to qualified companies, which can save substantial money both upfront during the construction as well as ongoing savings over the next 10 years.ˮ