April 16, 2019
Lee & Associates NYC’s Ben Tapper and HKS Real Estate Advisors’ Peter Carillo have been named the exclusive brokers for 777 Eighth Ave., a development site near Times Square. The site is being offered for the creation of a 99-year leasehold interest.
The lot currently holds a 15,000-square-foot mixed-use building and existing zoning allows for the construction of up to 50,000 square feet. The property will be delivered vacant at closing, and features 50 feet of frontage along a prime stretch of Eighth Avenue between 47th and 48th streets.
“The zoning is very flexible and allows for maximum optionality, making 777 Eighth ideal for residential, commercial or hotel use,” said Tapper.
Surrounding flagship and destination shopping options include H&M, Forever 21, MAC Cosmetics and M&M’s World. 777 Eighth is also located near the A, C, E, N, R, W and 1 subway lines.
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