A source close to the deal revealed to GlobeSt.com that theentity's name who is selling the site is Bond Street Partners LLC,but they could not reveal further information regarding reasons forselling. The source also says that "there are proposed plans for ahotel." The property, also known as 358-364 Lafayette St., iscurrently an irregular lot containing a three-story building at 8Bond St. and two contiguous one-story buildings with parking andsignage at 10-12 Bond St.

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The property consists of approximately 32,355 buildable sf. "Thearea is probably the hottest area in Manhattan right now in termsof an up and coming trendy area," the source says.

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"This property represents a truly rare opportunity to capitalizeon the strong demand for premier residential, commercial or hoteldevelopment sites on one of the most sought after streets not onlyjust in NoHo, but all of Manhattan," explains Massey Knakal brokerJames Kinsey, who is exclusively representing the seller withchairman Robert Knakal and Eastern Consolidated senior directorsAzita Aghravi and Alan Miller.

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Aside from the hotel plans, a developer could potentially obtaina special permit from the city for residential use, following suitof many projects in the area. The property is located in the NoHoHistoric District, but the owner obtained a certificate from theLandmarks Preservation Commission for the demolition of allbuildings on the property.

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"The development opportunity at this site has tremendouspotential," Knakal says. "The location alone sets this site apartfrom the rest. There is obvious demand for property in thisarea."

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Natalie Dolce

Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.