Rare Lower Manhattan assemblage delivers roughly 10,150 square feet of vacant land and a vacant building with flexible zoning for residential, hotel, office, or conversion-- BKREA announces the sale of 78 Pearl Street and 46 Water Street, a block-through development site in Manhattan's Financial District, for $35,000,000. The property is a rare block-through assemblage running from the south side of Pearl Street to the north side of Water Street, between Coenties Slip and Hanover Square. A developer may purchase up to 2.0 FAR, roughly 20,360 square feet, of offsite UAP certificates, adding market-rate floor area while lowering the blended land basis. With 89.4 feet of frontage on Pearl Street and 54.5 feet on Water Street, the site offers unusual design flexibility for Lower Manhattan. "The successful sale of 78 Pearl Street & 46 Water Street underscores the continued demand for high-quality development opportunities in Lower Manhattan," said Nick Tuleu, Senior Associate at BKREA.