147-151 West 29th Street
147-151 West 29th Street | 11,955 SqFt Development Site
Marketing description
BKREA has been exclusively retained to arrange the sale of 147–151 West 29th Street, a premier mixed-use development opportunity in Manhattan.
Location Details:
Situated at the nexus of NoMad and Midtown South—two fast-evolving Manhattan neighborhoods.
Block-through site with 65 feet of frontage on West 29th Street and 50 feet on West 30th Street.
Located between Sixth and Seventh Avenues, just off Seventh Avenue.
Surrounded by key landmarks including Madison Square Garden, Macy’s, and Hudson Yards.
Seamlessly connects to Chelsea and Hudson Yards neighborhoods.
Site Specifications:
Development lot: approximately 11,955 square feet.
Total zoning lot (including Lot 94 air rights): approximately 25,660 square feet.
Located in an M1-6 zoning district, permitting commercial/manufacturing use.
Air rights are being transferred from 150 West 30th Street (Lot 94), increasing development potential.
Located in the MSMX rezoning M1-9A / R-12
Development Plans:
Falls under the proposed Midtown South Mixed-Use Rezoning (M1-9A/R12).
Anticipated FAR:
Up to 18.0 FAR with Mandatory Inclusionary Housing (MIH) for residential.
15.0 FAR may be allocated to community facility or commercial use.
225,950 BSF with Ultra-Low Energy Deductions via the City of Yes initiative
Potential for up to 257,291 square feet of Zoning Floor Area (ZFA), combining:
Rezoning allowance
Transferred air rights
Ultra-Low Energy Deductions via the City of Yes initiative
Zoning and massing study by Hill West available in the data room.
Neighborhood Demand Drivers:
Central location near Midtown’s business core with high foot traffic.
Exceptional access to amenities, retail, cultural venues, and new developments.
Immediate proximity to major transit hubs including Penn Station and 34th Street–Herald Square.
Opportunity Highlights:
Rare block-through development site with dual street frontage for flexible design.
Unmatched visibility and branding potential for flagship retail or luxury residential.
Premier mixed-use potential in one of Manhattan’s most transit-rich, high-demand areas.
Immediate access to subway lines: 1, 2, 3, A, C, E, B, D, F, M, N, Q, R, W, plus LIRR and NJ Transit.
Ideal for developers seeking a long-term hold or high-profile development in a booming corridor.
Investment highlights
Flexible Zoning Opportunity - Once MSMX is adopted, the M1-9A/R12 zoning district will permit residential, commercial, and community facility uses.
Block-through Lot - Given its block-through nature, the development site can accommodate two buildings on the lot—one market-rate and one affordable.
Potential Landmark Air Rights - Two eligible landmark properties may be able to transfer development rights under the City of Yes, which allows greater flexibility for air rights transfers.
Prime Location - The offering is ideally positioned at the intersection of Midtown South, NoMad, and Chelsea (just steps from Penn Station) allowing developers to capitalize on strong demand drivers in a rapidly evolving neighborhood.
Convenient Accessibility - The site is a 3-minute walk from Penn Station, which provides access to the 1, 2, 3, A, C, E subway lines, as we l as the LIRR and NJ Transit. It is also just a 6-minute walk from 34th Street Herald Square, offering additional connectivity via the B, D, F, M, N, Q, R, and W lines
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