A vacant lot at 42 Second Avenue offers potential for multifamily development opportunity

New York, NY – Avison Young has been exclusively retained by Gemini Rosemont to bring a trophy redevelopment property located at 42 Second Avenue, at the crossroads of New York City’s energetic NoHo and East Village neighborhoods, to market. The 14,019-square-foot (sf) corner lot features 161 feet of frontage the corner of Second Avenue and Second Street.

The owners are represented by Charles Kingsley, Principal; James Nelson, Principal and Head of Tri-State Investment Sales; Brandon Polakoff, Principal and Executive Director of Tri-State Investment Sales; Erik Edeen, Principal and Director of Tri-State Investment Sales; and Eric Karmitz, Director, all based in Avison Young’s New York City office.

“We are thrilled to provide a rare chance to bring new ground-up development opportunities to the vibrant and culturally rich NoHo and East Village neighborhoods,” said Kingsley. “This property offers a virtual blank canvas that is ideal for multifamily development.”

Fully coordinated plans and drawings for the property call for approximately 136,000-sf of mixed-use development including residential, ground floor retail, and below-grade parking. The property also includes a clean, clear lot with vacant possession and pre-purchased off-site certificates.