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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.

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Neighborhoods: Murray Hill/ Agents: John Ciraulo, Robert Burton