717 E Genesee Street

Description

Currently a 3 story office building, 717 East Genesee Street sits on a dynamic block in the heart of development in the city of Syracuse and is primed for development. The building is a 3 story, 6k square foot existing office built in 1900, with 60 feet of frontage on East Genesee Street & 60 feet of frontage on Orange Alley. As of right, this .21 acre lot is part of the future MX-5 class according to the Syracuse ReZone, the most favorable zoning class in Syracuse. MX-5 has no height restrictions, no parking requirements, no side / rear setbacks and 100% lot coverage ratio for development. This future property has the ability to grow tall. The owners have rendered a 19 story, 80 unit, mixed-use building overlooking Forman Park & all of Downtown Syracuse. This development site has superior placement surrounded by four Syracuse Hospitals, Syracuse University, as well as New York States Interstate 81 initiatives. This development will yield potentially $3MM in annual rent and help to close the gap between Downtown & the University neighborhoods.