-- BKREA has been exclusively retained to arrange the sale of 327 Tenth Avenue, a premier residential development opportunity located at the southwest corner of West 29th Street and Tenth Avenue in Manhattan’s rapidly evolving West Chelsea neighborhood.
Positioned in West Chelsea just steps from the High Line and near Hudson Yards, this site presents developers with a rare opportunity to acquire a boutique-scale corner property and capitalize on meaningful time and cost efficiencies due to its prior demolition, all within one of New York City’s most sought-after residential submarkets.
The 2,470-square-foot site is zoned C6-4 (R10 equivalent) within the West Chelsea Historic District. Under New York City’s recently enacted “City of Yes” zoning amendments, participation in the Universal Affordability Preference (UAP) program permits an as-of-right residential FAR of 10.0, allowing for approximately 24,700 ZFA with the inclusion of one qualifying UAP unit either on-site or off-site. Additional density bonuses available through Inclusionary Housing and UAP provisions may further increase the site’s maximum buildable area to approximately 29,640 ZFA.
“The opportunity at 327 Tenth Avenue represents the type of boutique development site that is becoming increasingly difficult to find in Manhattan,” said Jas Saini, Managing Director at BKREA. “It combines a prime corner location, exceptional light and air, proximity to some of New York City’s strongest demand drivers, and multiple pathways to significantly enhance density under the City of Yes framework. The fact that the site is already demolished and construction-ready makes this an especially compelling opportunity for developers looking to move quickly in a supply-constrained market.”
“The site benefits from a rare corner configuration with exposure on three sides, providing exceptional light and air. It features frontage along Tenth Avenue and West 29th Street, and is immediately adjacent to the High Line,” said Ryan Candel, Senior Vice President at BKREA.
Located just steps from the High Line and minutes from Hudson Yards, the site benefits from immediate access to world-class retail, dining, office, hospitality, and entertainment destinations. The surrounding neighborhood is home to renowned art galleries, Chelsea Piers, Hudson River Park, and an expanding luxury residential population that continues to drive strong market demand.
The property also offers exceptional accessibility, situated within an eight-minute walk of both the 34th Street–Hudson Yards Station and Penn Station, while providing direct connectivity to the Lincoln Tunnel and West Side Highway.
BKREA is also separately marketing the applicable UAP certificates associated with the opportunity.
The BKREA team handling the exclusive assignment includes Bob Knakal, Chairman & CEO; Jas Saini, Managing Director; Ryan Candel, Senior Vice President, Transactions; and Nick Tuleu, Senior Associate.
About the company: BKREA is a New York City investment sales firm founded by Bob Knakal, focused on the sale of development sites and commercial buildings across the five boroughs. The firm advises owners and investors through rigorous market analysis, zoning expertise, and a disciplined, data-driven approach to property valuation and transaction execution.
Contact Info:
Name: Bob Knakal
Email: Send Email
Organization: BKREA
Address: 135 West 36th Street NY NY 10018
Phone: 212-888-8850
Website: https://bkrea.com
Release ID: 89193478
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