591 Park Avenue
591 Park Avenue | Boutique Development Opportunity
Marketing description
*Price is based on BUILDABLE SQUARE FEET (19,910 BSF)
BKREA has been exclusively retained to arrange the sale of 591 Park Avenue (“The Property”), a prime development site in the prestigious Lenox Hill neighborhood of Manhattan.
Property Overview
Location: East side of Park Avenue, between East 63rd & 64th Streets.
Frontage: Prominent Park Avenue exposure in a high-demand luxury corridor.
Existing Structure: 8,250 SF vacant building, primed for redevelopment.
Zoning & Development Potential
Max ZFA: 23,892 SF (with Universal Affordability Preference – UAP).
Flexible zoning allows for luxury residential or hospitality use.
Delivered vacant, allowing for full-scale redevelopment.
Unmatched Location & Accessibility
Steps from Central Park, providing prestige and desirable green space access.
Surrounded by world-class dining, luxury retail, and renowned cultural institutions.
Easy access to Midtown’s commercial district, attracting high-net-worth residents and investors.
591 Park Avenue presents a unique opportunity for developers to create a high-end residential or hospitality project in one of NYC’s most exclusive neighborhoods.
Investment highlights
Prime Park Avenue Address - Located on one of Manhattan's most iconic avenues, 591 Park offers unmatched prestige and visibility in the heart of the Upper East Side.
Steps from Central Park - Just a short stroll to Central Park, the site provides future residents or tenants with access to one of the world's most renowned urban green spaces.
Vacant Possession - The existing building will be delivered vacant, providing time and cost savings.
Architectural Integration Opportunity - Flanked by two historic buildings, the site invites innovative design that can seamlessly blend modern luxury with timeless architectural elegance.
Unrivaled Visibility - Park Avenue frontage ensures high visibility on a wide street, making it an ideal location for a statement residential development.
Boutique Development Potential - The smaller footprint provides a unique opportunity to craft an exclusive, high-end project tailored to discerning buyers or tenants.
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