237-245 East 36th Street & 663-673 Second Avenue
Prime residential development site at the northwest corner of East 36th Street and Second Avenue in Manhattan's Murray Hill neighborhood, offered upon request. The 21,945 SF vacant lot is zoned C1-9 (R10) and permits 10.0 FAR for residential use (219,450 ZFA) or 2.0 FAR for commercial (43,890 ZFA). Through purchase of off-site UAP air rights or on-site affordability, the site can increase to 12.0 FAR (263,340 ZFA). An adjacent MTA-owned lot containing over 500,000 ZFA of transferable development rights presents further expansion potential through an RFP process.
The property commands 300.86 feet of wraparound frontage—115.86 feet on Second Avenue and 185 feet on East 36th Street—delivering exceptional light and air from all four exposures. An existing curb cut provides immediate vehicle access and cost savings. Located minutes from NYU Langone Health and United Nations Headquarters, the site benefits from anchor institutional demand. Grand Central Terminal is nearby with connections to the 4, 5, 6, 7, and S subway lines, Metro-North, and Long Island Rail Road; the 33rd Street Station (6 line) is a 10-minute walk, and the East River Ferry is 9 minutes away. The neighborhood combines historic charm with vibrant dining, nightlife, and walkability.
Massing studies demonstrate multiple development scenarios, ranging from 276,858 to 803,070 gross square feet across 35 to 92 floors, with tower-on-base and standard envelope options. Comparable rental buildings in the area show studio rents averaging $4,675, one-bedroom at $6,090, and two-bedroom at $9,326 monthly. Recent condo projects in nearby neighborhoods have achieved sales prices per square foot ranging from $1,895 to $2,429. Current annual real estate taxes total $306,244 on an assessed value of $2,845,614 (tax year 2025/2026).
- 21,945 SF corner lot with 300.86 feet of wraparound frontage and exceptional light and air
- Zoning allows 10.0 FAR residential (12.0 with UAP or affordability); commercial 2.0 FAR
- Adjacent Lot 34 offers 500,000+ ZFA of MTA transferable development rights
- Minutes from NYU Langone Health and United Nations; exceptional transit access via Grand Central and multiple subway lines
- Delivered vacant with existing curb cut; multiple development scenarios from 35 to 92 floors
More property details
Features & amenities
Location
Located at the northwest corner of East 36th Street and Second Avenue in the Murray Hill neighborhood of Manhattan. The site is minutes from NYU Langone Health and the United Nations Headquarters, with exceptional proximity to Grand Central Terminal and major subway lines. The area combines historic charm with modern amenities, featuring a vibrant dining and nightlife scene, close-knit community, and excellent walkability.
- Northwest corner of East 36th Street and Second Avenue;
- 300.86 feet of wraparound frontage (115.86 feet on Second Avenue, 185 feet on East 36th Street); Exceptional light and air from north, east, south, and west;
- Close proximity to Grand Central Terminal, NYU Langone Health, and United Nations Headquarters
Documents
Additional details
All materials and information received or derived from BKREA are provided without representation or warranty as to completeness, veracity, or accuracy. BKREA makes no representation or warranty regarding the condition of the property, compliance with governmental requirements, developability, suitability, or financial performance. Each party shall conduct its own independent investigation and due diligence. All financial data should be verified by the party. Legal, tax, and title questions should be discussed with appropriate professionals.
BKREA has been retained on an exclusive basis to arrange the sale of this property.
Can purchase off-site UAP Certificates within Community Board 6 or within half mile of site to increase FAR to 12.0
Historical documents suggest feasibility of cantilevering over roadway for unique amenities and construction efficiencies