An undisclosed international investor is in contract to acquire, for an unknown price, the 12,500-square-foot development site at 40 Bay Street, located in St. George on Staten Island’s North Shore. Plans for the site, although not detailed, include a mixed-use building with a hotel and condominium residences.
Schneider Realty Services, the broker in the deal, expects a project between eight and 10 stories, measuring roughly 40,000 to 60,000 square feet. New building applications have not been filed at this site at this time. The Staten Island Advance was the first to report the plans.
The assemblage consists of two single-story commercial buildings. Demolition permits have not been filed for the structures.