Listing Details
- Space Type
land
- Sub Category
commercial
- Sale Type
Development Sale
- Date Listed
2/26/2025
- Building FAR
12
Property Specifics
- Property Name
136 W 44th St
- Lot Size
5,021 SF
- Zoning
C6-5.5, MiD
Highlights
• Flexible Zoning Opportunity - The favorable C6-5.5, MiD allows residential, commercial, and Universal Affordability Preference enabling the execution of a variety of business plans. • Vacant Possession - A portion of the site has already been demolished and the existing building will be delivered vacant, providing time and cost savings. • Transferrable Development Rights - Ownership has the ability to transfer approximately 14,018 square feet of development rights for commercial and UAP uses. Additionally, the future development has the potential to cantilever over the remaining Lot 51 allowing more efficiency on upper floors. • Coveted Location - 136- 140 West 44th Street is ideally located in the heart of the Theater District of Midtown allowing developers to benefit from the unmatched demand drivers. • Advantageous Accessibility - The site is a 3-minute walk from The Times Square – 42nd Street station providing access to subway lines 1, 2, 3, 7, A, C, E, N, Q, R, and W.
Description
Exclusive Sale Retention: • BKREA has been exclusively retained to arrange the sale of 136-140 West 44th Street, a prime development opportunity in Midtown Manhattan. Location Details: • Located on the south side of West 44th Street, between Avenue of the Americas and Broadway. • Features 50 feet of frontage along West 44th Street. • Positioned near Times Square and Bryant Park in a highly vibrant and visited area. Site Specifications: • The development lot spans 5,021 square feet. • Currently consists of two tax lots: Lot 49 is demolished, and Lot 50 contains a three-story building. • The entire site will be delivered vacant, enabling full redevelopment. Zoning & Development Potential: • Zoned C6-5.5 MiD (Special Midtown District), allowing a maximum as-of-right FAR of 12.0 for commercial or residential-UAP uses or 10.0 FAR for market-rate residential. • The seller owns an adjacent building at 142 West 44th Street, contributing 14,018 square feet of additional development rights. • Developers can purchase offsite UAP certificates to increase market-rate ZFA to 12.0 FAR (74,270 square feet). Investment Opportunity: • Ideal for residential or hotel development, leveraging strong demand in the Theater District and Midtown Manhattan. • Offers a rare chance to develop in one of NYC's most iconic neighborhoods with high visibility and accessibility. Transportation & Accessibility: • Located within a 3-minute walk of the Times Square-42nd Street subway station. • Provides access to major subway lines, including the 1, 2, 3, 7, A, C, E, N, Q, R, S, and W, offering citywide connectivity. Neighborhood Demand Drivers: • Situated in a dynamic area with iconic attractions, theaters, restaurants, and retail. • Provides walk-to-work convenience for future residents and proximity to key tourist destinations.