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Build Your Own Bond Street Empire!

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Contrary to popular opinion, Ian Schrager and Adam Gordon haven't turned every inch of Bond Street into gold-plated trophy homes for bankers and Ricky Martin. How can we fix that? Well here's a solid opportunity for the barons of Bond: 8-12 Bond Street, currently a parking lot and a three-floor building home to a gallery/event space and a residential unit on the top floor, have just hit the market either as a package deal or sold separately. On their own, the parking lot is asking $6 million and 8 Bond?which can be delivered vacant?is seeking $6.75 million. The properties fall within the Noho Historic District but according to the listing, "The owner has obtained all necessary certificates for the demolition of all of the buildings on the subject property." So what can be built?

The property isn't currently zoned for residential use but a zoning switcheroo would be far from unprecedented. The as-of-right buildable square-footage for 8 Bond is 13,000 square feet, while the bigger parking lot of 10-12 Bond yields 19,385 square feet. All the new fancy condo buildings are on the other side of Lafayette Street from this assemblage, but the intersection is heating up with the eventual additions of 363 Lafayette and the Great Jones Hotel. Here's what the inside of 8 Bond Street looks like now if someone is just in the market for a Noho townhouse:

· Listing: 8 Bond Street [Corcoran]
· Listing: 10-12 Bond Street [Corcoran]