INWOOD — The owner of an Inwood property that currently houses several small businesses is shopping the site for development into a multi-story residential building.
Helm Equities Cooper LLC is the owner of 85-95 Cooper St., a one-story commercial building that currently houses the Inwood Gourmet food store, Upstart art and Camila Laundromat. Helm is now looking to sell the building for $4.25 million.
The property has a buildable area of 13,132 square feet, according to GFI Realty Services, the sales agent for the property. It has the potential to rise seven stories under the area's current zoning.
“This site provides a great opportunity for residential development, with its location a block away from Inwood Hill Park and both the A and 1 trains,” GFI Realty Director Daniel Lerer in a statement. “The seller…recognizes the potential that 85-95 Cooper Street has, and decided to put it in the hands of a buyer that will actualize its potential.”
In 2011, Helm filed an application with the Department of Buildings to add a cellar and five residential floors to the building. The development would have included 13 residential units, with retail space and a community facility on the first floor, GFI said.
The application was disapproved in October 2014 because it was never completed, according to the DOB.
A spokesman for GFI confirmed that the application was not rejected on merit, but rather because the owners decided to sell the property instead.
A spokesman for GFI Realty said that they expect that a similar application would be approved.
“It is assumed that the same plans resubmitted will be approved again,” he said.
It was unclear what such a development would mean for the businesses that currently operate at the site.
Lauren Skoulatos, the owner of Inwood Gourmet, said she was not aware of the new plans.
She declined to comment on the proposal, but said she has a lease for the space rather than operating a month-to-month basis.