A 43.75’
wide development site with approximately 68,333 square feet of buildable
rights located on the north side of East 31st Street between Madison
and Fifth Avenues. The property is zoned C5-2 (R10 Equivalent) which
would allow for either residential or commercial development. Included
in the buildable square footage are the air rights from the adjacent
properties: lots 12, 13 & 69. Ownership’s concept is to build a
boutique hotel featuring a destination restaurant, rooftop lounge and
fitness center. This property is situated in Manhattan’s Midtown South
NoMad neighborhood and is in close proximity to Madison Square Park,
Herald Square, Penn Station and Grand Central Station. Given the
location and air rights assemblage, this provides an excellent
opportunity for a boutique hotel, residential development or a
combination of both. Ownership also has 21,600 SF of Inclusionary Air
Rights available.
Click here for listing details.
Neighborhoods: Murray Hill/ Agents: John Ciraulo, Robert Burton