Location: 122 West 3rd Street / 12 Minetta Lane between MacDougal and Sixth Avenue
Block/Lot: 543 / 15
Number of Floors: 4 floors plus a full cellar
Lot Size: 12,450 square feet
Buildable Square Feet (incl. Basement): 60,000 - 75,000 square feet plus garden terraces
Zoning: R7-2, C1-5 overlay
The building was constructed in the late 1800’s with 100 feet on West 3rd street and 50 feet on Minetta Lane. It is now a 4-story parking garage with a full basement. The property is located in the heart of Greenwich Village, minutes from Washington Square Park and NYU.
The lot is 12,500 square feet. West 3rd Street is a commercial thoroughfare and Minetta Lane is a quiet, picturesque, West Village road. The site enjoys 100 feet of frontage on West 3rd Street, a commercial thoroughfare, and 50 feet of frontage on picturesque Minetta lane, a beautiful, quiet West Village road.
Landlord plans to demolish and rebuild the entire interior structure to suit a prospective tenant. Because the building is located in the South Village Historic District, changes to the exterior facades are constrained.
The new structure will include a basement of up to 25’ in height, a ground floor of 14’and three upper floors of approximately 11’. There will be built two new floors, totaling up to 15,000 FAR, each with extensive gardens.
The renovated building will have several usage options. It may consist of 62,000 FAR for retail or office use, 50,000 for residential occupancy, 69,000 for hotel occupancy or 75,000 FAR as a community facility. There is the possibility of additional windows and an interior courtyard in the new structure.
The site is located at the crossroads of lower 5th avenue and Greenwich Village. Its 3rd Street entrance is 5 minutes from Washington Square Park and the major building of New York University. It is within walking distance of the New School and other colleges in the area. There are myriad subway and bus connections close by and the PATH train station is located several blocks away.