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Murray Hill opportunity.


An exceptional opportunity to purchase a vacant 6,507 s/f two-story, walk-up commercial building, with 18,218 s/f of air rights, is on offer exclusively through Itzhaki Properties for $7.3 million.

Bart Zimmerman, vice president, Itzhaki Properties, is spearheading the marketing initiative of 32 East 32nd Street, between Madison and Park Avenues on behalf of the seller. The acquisition will enable the prospective buyer to capitalize on Cap´i`tal`ize on`   

v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>.
 the property by building an additional 11,743 s/f atop the structure. The property is zoned to allow up to 24,725s/f of buildable build·a·ble  
adj.
Suitable or available for building: "The problem was finding a site that was well located, appropriately zoned . . . and buildable" Sam Hall Kaplan. 
 space; however, due to height restrictions and the Sliver Law, the new owner will ultimately be able to build a total of 18,250 s/f

"The highly residential sub-market of Murray Hill Murray Hill may refer to one of the following places:
  • Murray Hill, Kentucky
  • Murray Hill, Manhattan, a residential neighborhood in New York City
  • Murray Hill, Queens, a different locality in New York City
  • Murray Hill, New Jersey
  • Murray Hill, Pennsylvania
 is an ideal location for new condominium development or even a boutique hotel Boutique hotel is a term originating in North America to describe intimate, usually luxurious or quirky hotel environments. Boutique hotels differentiate themselves from larger chain/branded hotels and motels by providing personalized level accommodation and services / facilities. ," said Mr. Zimmerman.
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Article Details
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Publication:Real Estate Weekly
Article Type:Brief Article
Geographic Code:1USA
Date:Dec 14, 2005
Words:145
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