Continuing the discussion from NEW YORK | World Trade Center District:
The subject property is an approximately 362,300 square foot development site located on the corner of Washington and Carlisle Streets in the heart of Lower Manhattan. 111 Washington Street represents an ideal development opportunity with 137’ of frontage on Washington Street and 98’ of frontage on Carlisle Street.
The site features a lot area of approximately 11,206 square feet. Due to the air-rights that have been acquired from several adjacent parcels the total buildable square footage is calculated based on a combined lot area of approximately 28,021 square feet. The flexible C6-9 zoning designation allows for residential, hotel, retail and office development. Additionally, the site has no height restriction therefore a future development will be able to capitalize on expansive harbor and city views. The total development site consists of the parcels located at 111 and 105 Washington Street and air-rights from 109 Washington Street along with 102-104, 106, and 108 Greenwich Street.
The Lower Manhattan sub-market has reemerged as one of the most sought after areas of the city due to a multitude of recent developments. The redevelopment of One World Trade Center and creation of the new Fulton Street Transit Hub along with Brookfield Place will positively impact future commercial, retail, and hospitality progression. Tourism growth has reached new levels in Lower Manhattan and is only expected to increase as additional developments reach completion in the coming years.
Furthermore, the property is easily accessible through public transportation. The 1 and R trains are located two blocks south on the corner of Rector Street and Greenwich Street. Additionally, the 4 and 5 trains are just 4 blocks to the east on Wall Street. The development site at 111 Washington Street presents the chance to make a lasting impression on the New York City skyline in a flourishing section of Downtown Manhattan just two blocks south of the World Trade Center.