410 E 47th St - 16,746 Sqft Development Land / Approved Plan

This prime development land is located in a major north/south commercial corridor, offering convenient access to major transportation routes and a variety of amenities. The property is currently zoned for mixed-use development, with approved plans to build a 6-story commercial building with 14 residential units. The ground level of the building will feature 2,450 square feet of commercial space and parking, while the second floor will offer 2,294 square feet of office space and parking. The third and fourth floors will be dedicated to parking, and the fifth and sixth floors will feature 14 one-bedroom, one-bathroom residential units. The property is also eligible for a variety of incentives and subsidies offered by the state through its Live Local affordable housing program. These incentives can help developers to reduce the cost of construction and make their projects more financially viable. With housing demand at an all-time high and the local economy experiencing unprecedented growth, this investment property offers the potential for exponential returns. Features: * 16,746 square feet of development land in a major commercial corridor * Approved plans to build a 6-story commercial building with 14 residential units * Eligible for a variety of state incentives and subsidies Investment Highlights: * Prime location in a growing commercial corridor * Convenient access to major transportation routes and amenities * Approved plans for a mixed-use building with both commercial and residential space * Eligible for state incentives and subsidies * Strong housing demand and economic growth