Overview

Highlights

• Favorable Zoning: The C5-2.5, MiD* (Special Midtown District) permits both residential and commercial developments as-of-right
• Vacant Possession: The Site will be delivered vacant allowing prospective developers to demolish the buildings. Additionally prospective value-add investors could renovate and lease the existing buildings.
• Proximity to Midtown CBD: The Midtown CBD is home to numerous Fortune 500 companies, facilitating a seamless “walkto-work” lifestyle
• Ideal Location: Distinguished by the presence of the United Nations and numerous international embassies, Midtown East is home to a thriving culinary scene featuring vibrant restaurants and bars that cater to both local residents and global visitors.
• Convenient Accessibility: The offering is well positioned near Grand Central Station allowing access to Manhattan, the surrounding boroughs, Long Island, Westchester and Connecticut.

Description

BKREA has been exclusively retained to facilitate the sale of an exceptional boutique development site (“The Site”), situated at 139-141 East 45th Street. Positioned in the vibrant Midtown East district, around the corner from Grand Central Station, this 4,217 square foot parcel comprises two contiguous buildings boasting a collective frontage of 42 feet along the northern side of East 45th Street, nestled between Lexington and Third Avenues.

Currently, 139 East 45th Street stands as a vacant 5-story, mixed-use building maintaining 22 feet of frontage, while 141 East 45th Street presents as a vacant 4-story, mixed-use building with 20 feet frontage. Positioned within the C5-2.5, MiD (Special Midtown District), the property permits a base FAR of 10.0 for residential and a 12.0 FAR for commercial. This equates to a residential density of 42,170 ZFA and a commercial density of 50,604 ZFA. Potential developers could enhance their residential FAR to the 12.0 FAR by integrating a residential recreation space. While development is likely the highest and best use, the vacant delivery allows prospective investors and/ or users the optionality to potentially utilize or lease out the two buildings as mixed-use residential properties in the short term with a potential to develop at a later point.

Perfectly situated within the Midtown East district, the site possesses prime accessibility to all corners of Manhattan, courtesy of its proximity to Grand Central Station. Grand Central serves as a central transportation hub, connecting multiple subway lines such as the 4, 5, 6, S, 7 as well as the Long Island Railroad and the Metro North Railroad. With such comprehensive transportation options, this location offers unmatched convenience for commuters and travelers alike. Moreover, the area is enriched by nearby cultural landmarks and tourist destinations such as the United Nations Building, East Midtown Greenway, and the iconic Chrysler Building, all of which elevate the appeal of 139-141 East 45th Street.

Location

Perfectly situated within the Midtown East district, the site

possesses prime accessibility to all corners of Manhattan,

courtesy of its proximity to Grand Central Station. Grand

Central serves as a central transportation hub, connecting

multiple subway lines such as the 4 5 6 S 7 , as well as

the Long Island Railroad and the Metro North Railroad.

With such comprehensive transportation options, this

location offers unmatched convenience for commuters

and travelers alike. Moreover, the area is enriched by

nearby cultural landmarks and tourist destinations such

as the United Nations Building, East Midtown Greenway,

and the iconic Chrysler Building, all of which elevate the

appeal of 139-141 East 45th Street.

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