World-Class Development Site Hits the Market in Manhattan’s Financial District
NEW YORK, Jan. 8, 2020 – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the exclusive listing for sale of 8 Carlisle Street, a world-class, 400,000-square- foot development site in the heart of Manhattan’s Financial District. The price is open bid.
“This large-scale site is one of the few as-of-right projects in a prime Manhattan location with no problematic tenancy issues,” said Eric Michael Anton in Marcus & Millichap’s Manhattan office. “Flexible zoning allows a developer to implement a strategic business plan that will capitalize on the property’s highest and best use.” Anton is leading the marketing effort on behalf of the seller, a private long-term ownership group.
The 11,208-square-foot lot is located two blocks south of the World Trade Center at the corner of Carlisle Street and Washington Street. “This is a once-in-a-generation, shovel-ready opportunity with construction plans for a 50-story tower that will have panoramic city and harbor views,” added Anton. “It is being offered during a temporary COVID-19 building slowdown that provides a window to lock in a favorable guaranteed maximum price on construction costs.” The site has 340,526 square feet of mixed-use development rights.
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About Marcus & Millichap (NYSE: MMI)
With over 2,000 investment sales and financing professionals located throughout the United States and Canada, Marcus & Millichap is a leading specialist in commercial real estate investment sales, financing, research and advisory services. Founded in 1971, the firm closed 8,954 transactions in 2020 with a value of approximately $43 billion. Marcus & Millichap has perfected a powerful system for marketing properties that combines investment specialization, local market expertise, the industry’s most comprehensive research, state-of-the-art technology, and relationships with the largest pool of qualified investors. To learn more, please visit: www.MarcusMillichap.com.