109 Delancey Street

109 Delancey Street, New York, NY, 10002, US

Description

Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis to arrange the ground lease or sale of 109 Delancey Street (“The Site”), a ~40,000 buildable square foot (“BSF”) development site in the heart of the Lower East Side in Manhattan. The 6,688 square foot development parcel features ~164’ of prime wraparound frontage at the corner of Delancey Street and Essex Street, immediately adjacent to Essex Crossing.

Note: Ownership most interested in long-term ground lease, but open to sale or retail lease.

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Attributes

Available For:

Ground Lease, Sale, or Retail Lease

Block / Lot

409 / 53

Lot Dimensions

88.06' x 75.99'

Development Lot Parcel

6,688 SF

Wraparound Frontage

~164'

Zoning

C6-1

Maximum FAR

6.0 (Up to 5.01 FAR for Residential w/ UAP)

Maximum ZFA

40,128 (Up to 33,507 ZFA for Resi w/ UAP)

Media

Investment Highlights

GROUND LEASE FLEXIBILITY

109 Delancey Street is being offered for ground lease or for sale. Prospective developers interested in the ground lease structure will benefit from significantly reduced upfront capital risk, greater financing optionality, and future cost predictability.

DEVELOPMENT POTENTIAL

Maximum 6.0 FAR permits 40,128 ZFA. Rental developers using UAP can build 33,507 ZFA residential with 20% affordable units. Condo developers get full 40,128 ZFA but are limited to 26,752 residential ZFA, allowing for commercial space on lower floors.

DEVELOPER FLEXIBILITY

Given the location, footprint, and development scale, the Site is a blank canvas for developers to design a one-of-a-kind boutique project. The zoning and economics allow for the option to build either a rental, condo, or mixed-use project with a retail component on the lower floors.

RECORD BREAKING RESIDENTIAL MARKET

Manhattan's residential market achieved record strength in September 2025 with median rents hitting $4,972. Strong market fundamentals support premium pricing, while the new UAP program enables viable rental development. New condominiums are commanding over $2,000 per square foot with rapid absorption, and current supply-demand imbalances create significant competitive advantages for new developments.

PRIME LOWER EAST LOCATION

Located in the culturally rich, evolving Lower East Side near the Tenement Museum, Essex Market, and Orchard Street. The Site has convenient access to SoHo, Nolita, and East Village with abundant dining, shopping, and nightlife.

EXCELLENT SUBWAY ACCESSIBILITY

Directly across from Delancey-Essex subway station which provides access to four lines (F, M, J, Z) serving all boroughs. Additional nearby stations at East Broadway and Bowery expand transportation options. The Site is also adjacent to Williamsburg Bridge providing connectivity to Brooklyn, and there is comprehensive bus service and Citi Bike access.