Hudson Square commercial building trades hands for $21.3 million

New York /
Dec.December 11, 2012 03:00 PM

Updated at 6:21 p.m. with comments from David Zar

A 14,700-square-foot property located at 92 Vandam Street in the Hudson Square area has traded hands for $21.3 million, according to city public records filed today. The six-story building was constructed around 1910, PropertyShark shows, and contains five commercial units.

The seller listed on the deed is Sandro La Ferla, who appears to have owned the property since 1988. Reached by phone, La Ferla declined comment. The purchaser is listed as 92 Vandam Partners LLC. The property “has tremendous air rights,” Zar Properties NY’s David Zar said in an email. “[The] buyer can quadruple the size of the building.”

PropertyShark shows that the building is zoned in an M1-6 district, meaning that space inside an industrial property can be converted into residences as long as a specified amount of floor area is preserved for commercial use.

As previously reported, the Department of City Planning allowed for residential development in Hudson Square this summer. But the rezoning must undergo a land-use review process.

Streeteasy.com does not show a listing for the property.


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