development site in the coveted Flatiron neighborhood has hit the market.
Gary Vinbaytel of
Vinbaytel Developments has tapped Compass vice president Adelaide Polsinelli to
sell the site at 16 West 18th Street and 21 West 17th Street in the historic
ladies Mile district.
“Finding a development
opportunity with complete plans in an established neighborhood such as the
Flatiron, is rare,” noted Polsinelli. “This project is perfect for
opportunistic developers actively investing in sites which will benefit from
today’s low interest rates and Post-Covid future.”
The site comprises two mixed use buildings located between Fifth and Sixth Avenues, two blocks from Union Square Park.
Approved development plans call for two residential towers with a shared interior landscaped garden and amenities for each of the 22 full floor apartments. The ground floor component plans for two retail spaces.
“The ultimate purchaser
will enjoy a development in the heart of New York City, that is well- poised to
capitalize from the appreciation awaiting this real estate cycle,” added Polsinelli,
noting the neighborhood is home to 70,000 residents, 150,000 employees and
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