154 Lexington Avenue / Submit Offers

Murray Hill, New York, New York 10016

Listing ID Number

24539

Property Description

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of a development site located at the southwest corner of Lexington Avenue and East 30th Street. The property features 49.33' of frontage on Lexington Avenue and 80' of frontage on East 30th Street. Currently home to the Moravian Church, this represents an opportunity for a buyer to develop the site to its maximum potential of 32,439+ square feet provided that an approximately 6,677+ square foot community facility space at the base of the building is returned to the church at no cost. Preliminary plans exist for an 11-story building of which the church would occupy part of the ground floor and lower level. The property is located in a neighborhood where recently developed condo buildings such as 90 Lexington Avenue to the south and 325 Lexington Avenue to the north have achieved sellouts of over $2,000 per square foot. The site sits at one of the most popular corners in Murray Hill home to the only Dover Street Market in the United States, and the recently renovated Ramada East Hotel. Additionally, it is within two blocks of the 6 train stop at 28th Street and in close proximity to popular neighborhood eateries, such as Penelope and Vezzo. This is rare opportunity to acquire a boutique corner development site in Murray Hill.

Overview

Building Type:Development/Conversion Sites

Documents

Contact

For further information or inspection, please contact Exclusive Agents:

John F. Ciraulo
Vice Chairman
(212) 660 7700
john.ciraulo@cushwake.com

Craig Waggner
Senior Director
(212) 660 7744
craig.waggner@cushwake.com


Property Images

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Property Map


Aerial View


The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee it. All zoning, buildable footages and uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example. It does not necessarily relate to actual vacancy, if any. The value of this investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. THE PROSPECTIVE BUYER SHOULD CAREFULLY VERIFY EACH ITEM OF INCOME, AND ALL OTHER INFORMATION HEREIN.