36 East 12th Street

36 East 12BKREA has been retained on an exclusive basis to arrange the sale of 36 East 12th Street (“The Site”), a mixed-use development opportunity in the remarkable Greenwich Village neighborhood of Manhattan. The subject site is located on the south side of East 12th Street between University Place and Broadway and benefits from 50 feet of frontage on East 12th Street and a depth of 103.25 feet. Currently, Lot 24 is improved with a 7-story commercial building. Seidenberg Antiques occupies the base of the building, while 3 of the remaining 6 stories are currently tenanted. The overall tenancy WALT (Weighted Average Lease Term) is 1.98 years, with the last lease set to expire in November 2028. The roughly 5,163-square-foot lot is located within the C6-1 (R7-2) zoning district, which permits a 3.44 FAR for residential use, amounting to approximately 17,761 ZFA; a 6.0 FAR for commercial use, amounting to approximately 30,978 ZFA; and a 6.5 FAR for community facility use, amounting to approximately 33,560 ZFA. Additionally, the residential FAR can increase to 5.01, or approximately 25,867 ZFA, through the development of on-site affordable housing in accordance with the UAP affordability requirements. 36 East 12th Street presents an outstanding opportunity due to its phenomenal location in a supply-constrained market and its optimal development size. The future development is poised to capitalize on Greenwich Village’s unmatched demand drivers. The area is one of Manhattan’s most desirable residential enclaves, offering immediate access to green space at Union Square Park and Washington Square Park, as well as quiet, tree-lined streets that make it a highly sought-after place to live. Additionally, the site is just a 5-minute walk from the 4, 5, 6, N, Q, R, W, and L subway lines at 14th Street–Union Square, allowing for seamless connectivity throughout Manhattan and the outer boroughs.