75 Essex Street is a significant property located at the southeast corner of the Essex Crossing development in New York City. This early 20th-century building, known as The Eastern Dispensary Building, has a rich history of providing care to the ill and underprivileged in the Lower East Side for over a century. The site is poised for transformation, with plans for a vibrant mixed-use development that includes a new Essex Market, a movie theater, residences, and open park space, making it a central hub for work, nightlife, and tourism in downtown Manhattan.
The building offers a total of approximately 45,326 buildable square feet, making it an attractive candidate for various uses, including a boutique hotel, flagship retail space, luxury condominiums, or even a museum. The zoning allows for significant development potential, with various bonuses available, including community facility and arcade bonuses. The existing structure is being sold as-is, delivered vacant, providing a blank canvas for future development.
Currently listed at $30,000,000, the property includes both the land and the existing building. The flexible closing terms and the absence of mortgage contingencies make it an appealing opportunity for investors and developers looking to capitalize on the ongoing revitalization of the area. With its prime location and historical significance, 75 Essex Street stands as a unique opportunity within the bustling landscape of New York City real estate.