The United Hebrew Community of New York is making a new push to sell its side-by-side buildings at 201-203 East Broadway. The Commercial Observer reported that Eastern Consolidated has the new listing for $10.5 million.
“It’s one of the cheapest development sites in the city today,” Adelaide Polsinelli of Eastern Consolidated told the Observer. “This is dirt cheap.”
United Jewish Community calls itself “the leading Jewish burial society” in New York. According to the story, the non-profit organization will deliver the buildings vacant. Presently they comprise 15,000 square feet but the brokerage says the property is zoned for more than 28,000 square feet. United Jewish Community is interested in leasing space at the location.
The Greek Revival buildings were built in 1837 and modified in 1900. The stretch of tenements along East Broadway are not landmark protected.
The property has been listed on and off for the past several years by various real estate firms.
UPDATED 9:52 a.m. Here’s a bit more from the news release Eastern Consolidated put out this morning:
Two, five-story buildings, occupied by a non-profit religious facility, currently stand at the site and will be delivered vacant. The site is zoned for 28,152 buildable square feet, subject to height and setback requirements. It maintains a maximum FAR of 6.5 with the inclusion of community facility space and provides 50 feet of frontage along East Broadway… The development site is in close proximity to the 1.9 million-square-foot Essex Crossing Development and Extell’s 1.2 million-square-foot residential development at 227 Cherry Street. It is steps away from Seward Park and conveniently located less than two blocks away from the F subway line.
