206-210 Delancey Street Is a Rare Development Site with Approved Plans That Call For a 75,010-Square-Foot, 12-Story Mixed-Use Building With Residential and Community Space 

New York, May 1, 2017 – Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 206-210 Delancey Street on Manhattan’s Lower East Side. The site’s asking price is $33.9 million.

Located in one of the neighborhood’s busiest corridors, 206-210 Delancey Street is approved for development of a 78,660-square-foot, 12-story, mixed-use building with residential space on the second through twelfth floors, as well as community facility space in the cellar and on the ground floor.

“This desirable site stands upon a busy thoroughfare in one of Manhattan’s most dynamic neighborhoods,” said Stephen Preuss, senior managing director with Cushman & Wakefield. “The Lower East Side is in the midst of a significant renaissance. This property’s new owner will be tapping into this community’s vitality.” Additionally, “206-10 Delancey offers almost an 11,000 SF footprint and 75 feet of frontage on Delancey Street, directly across the street from Essex Crossing one of the most anticipated development projects in Manhattan,” said Michael DeCheser, senior managing director of the LES, teaming with Mr. Preuss on the assignment.

The venue consists of an assemblage of five lots combined to form an “L”-shaped development site with 75 feet of frontage on Delancey Street and 53 feet along Pitt Street. The lot size is 10,925 square feet.

The site has been dormant since October 2015, when the city’s Buildings Department had placed a “stop work” order on construction underway at the property, where a partially constructed, four-floor steel structure now stands. Environmental and structural remediation documents are in hand to facilitate use of the existing steel and concrete work.

The historic Lower East Side offers an array of distinctive shopping experiences and dining establishments, complemented by a burgeoning nightlife scene. The community has been steadily attracting a diverse mix of residents with its extensive cultural amenities and its proximity to the rest of Manhattan and to Brooklyn.

About Cushman & Wakefield

Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 45,000 employees in more than 70 countries help occupiers and investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $6 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. 2017 marks the 100-year anniversary of the Cushman & Wakefield brand. 100 years of taking our clients’ ideas and putting them into action. To learn more, visit www.cushwakecentennial.com, www.cushmanwakefield.com or follow @CushWake on Twitter.