We're Out of Gas? Yup. Developers Are On It.

From the Wall Street Journal: A rendering of 10 Sullivan St., the site of an old gas station. Archpartners

The Wall Street Journal's New York section today says real estate developers are scarfing up gas stations and building on them, making a fill-up before you cross the bridge or enter the tunnel a necessity.

The number of gas stations in Manhattan has dropped to 11, from 33 a decade ago. Two of the remainder are scheduled to close, and one is for sale, the newspaper reports.

And it's not just in midtown, either.  The article says that there were 14 stations open in 2003 between 96th and 135th Streets, and, "[t]oday, 10 remain, and two of those appear likely to close."

The article, which notes the frequent long lines for fill-ups is worth a read for the rundown of deals that have replaced the stations.  "Many of Manhattan's gas stations have turned into more valuable real-estate ventures, from condominiums, to rental buildings, from retail and commercial space," the report states, quoting a broker, ""People are walking the streets and making unsolicited offers for gas stations and parking lots."

You can read the article and see a chart here.


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