Development Site Chelsea
Investment Highlights
Chelsea dev site 20.83' x 98.75' lot (2,057 SF) zoned M1-6 / FAR 10 allowing approximately 20,569 BSF as-of-right. Property comes with BSA-approved residential plans (19,364 BSF) and DOB-approved plans for an 18-story hotel (20,012 BSF), creating multiple dev paths. Rare shovel-ready development opportunity in the heart of Chelsea between 6th & 7th Avenues. 8.3m (~$400/BSF).
Location
📍 Chelsea
🔒 The exact address and location are confidential and are released only after you sign the NCNDA and the listing broker approves your request.
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Who finances deals like this
The lenders with the most recorded development site mortgages in Manhattan since 2021, from public ACRIS filings.
- G4 18267, LLC — 3 loans, typically $1.5M–$68.64M
- Cerco Bl9 LLC — 3 loans, typically $3.07M–$6.91M
- Nw 10 West 17TH Lender LLC — 2 loans, typically $11.32M–$27.68M
- Canada Imperial Bank Of Commerce — 2 loans, typically $1.17M–$18.46M
- Levon 75-83 LLC — 2 loans, typically $4.97M–$5.72M
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Underwrite this deal
Pro-forma, debt sizing against real recorded NYC leverage, cash flow, IRR and a sensitivity grid. Free account — no card.
