We were walking by the lot at 45-34 Pearson Street, a place we hadn’t been since mid-2014.1 Back then, we noted that construction had gone completely silent on the site. Well, not much has changed since then in terms of construction, but in a new development, signage has appeared on the fence advertising the site for sale.
Ariel Property Advisors has the lot listed on its site for $4.9 million, and describes the property as a “25’ x 100’ lot zoned R7-3/M1-5 [which] offers developers the opportunity to build in one of the most rapidly developing areas in New York City.”2 The listing also shows a rendering, seen below.
According to the approved DOB permit, someone who purchased this property can build an 8 story, 16 unit, 15,427 square foot building (including below grade space) with 12,500 net rentable/sellable square feet.3
Signage is up for the sale of 45-34 Pearson Street
Rendering via Ariel Property Advisors