Description

BKREA has been exclusively retained to arrange the sale of 201 West 54th Street, a premier Midtown Manhattan development site located at the northwest corner of West 54th Street and Seventh Avenue. The fully demolished, rectangular lot spans approximately 7,542 square feet and benefits from 175 feet of wraparound frontage, offering immediate construction readiness and significant time and cost savings. The site carries grandfathered hotel plans, allowing a hotel to be built as of right without the need for a Hotel Special Permit, while also supporting as-of-right residential development. Zoned C6-6 (R10) within the Special Midtown District, the property can achieve up to approximately 192,508 zoning floor area through Theater District bonuses and transferable development rights, all of which are included in the sale. Approved plans by SLCE Architects envision a 41-story hotel totaling 179,812 square feet with 512 keys and multiple amenity levels, with potential to amend plans to utilize the full buildable area, subject to maintaining grandfathered status through substantial completion by December 9, 2031. Surrounded by world-class attractions, luxury office and residential developments, and exceptional transit access, the site represents one of the last remaining opportunities in New York City to develop a hotel as of right in a high-demand Midtown location, with additional upside from recent zoning updates and alternative residential potential.