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NEW YORK CITY-Massey Knakal Realty Services and Eastern Consolidated have been retained by ownership on an exclusive basis to sell 8 and 10-12 Bond St.–a 100-foot-deep site in NoHo that allows for immediate development to meet the increasing hotel and commercial office demand in the city. The asking price is $25 million.

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

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

“This property represents a truly rare opportunity to capitalize on the strong demand for premier residential, commercial or hotel development sites on one of the most sought after streets not only just in NoHo, but all of Manhattan,” explains Massey Knakal broker James Kinsey, who is exclusively representing the seller with chairman Robert Knakal and Eastern Consolidated senior directors Azita Aghravi and Alan Miller.

Aside from the hotel plans, a developer could potentially obtain a special permit from the city for residential use, following suit of many projects in the area. The property is located in the NoHo Historic District, but the owner obtained a certificate from the Landmarks Preservation Commission for the demolition of all buildings on the property.

“The development opportunity at this site has tremendous potential,” Knakal says. “The location alone sets this site apart from the rest. There is obvious demand for property in this area.”

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