201 W 54th St, New York, NY 10019

BKREA has been exclusively retained to arrange the sale of 201West 54thStreet(“The Site”), a premier Midtown Manhattan development opportunity with grandfathered hotel plans. Situated at the northwest corner of West 54th Street and Seventh Avenue, the rectangular lot spans approximately 7,542square feet with 175 feet of wraparound frontage with 75 feet on Seventh Avenue and 100feet along West 54th Street.

The site has been fully demolished, offering substantial time and cost savings and allowing a developer to begin construction immediately. Its grandfathered status removes the need for a Hotel Special Permit, permitting a hotel to be built as of right and allowing investors to capitalize on strong hospitality demand and proximity to major Manhattan attractions. Alternatively, the site also supports an as-of-right residential development.

201 West 54th Street is located within a C6-6 (R10) zoning district in the Special Midtown District (MiD). By leveraging Theater District bonus programs and transferable development rights (TDRs) from neighboring sites, the allowable floor area increases to approximately 192,508 ZFA, all of which has been acquired and will be included in the sale.

SLCE Architects, LLP has secured approved plans for a 179,812 ZFA hotel with 41 stories, 512 keys, and multiple amenity levels, including a hotel bar. With the additional air rights, a buyer could amend the plans to build up to 192,508 ZFA To maintain the site's grandfathered hotel status, substantial completion must occur by December 9, 2031 (please contact BKREA for details).

Recent City of Yes zoning updates may introduce Ultra-Low Energy and Corridor deductions, improving efficiency and increasing key count if plans are revisited. Additionally, the site's Central Park views and as-of-right residential zoning make a residential development an appealing alternative.

201 West 54th Street presents an exceptional opportunity as one of the last sites in New York City with grandfathered hotel plans. The future development is well-positioned to capitalize on the neighborhood's unparalleled demand drivers. The area has emerged as one of Manhattan's most desirable locations, driven by the development of modern luxury office, residential, hotel, and retail properties. The site is within walking distance of several major New York City tourist attractions, including Rockefeller Center, MoMA, Bryant Park, Columbus Circle, Times Square, and Fifth Avenue. Additionally, Just two minutes away, the 7 Av-53 St station provides D and E service at all times for efficient crosstown and Queens-bound access. Two blocks north, 57 St-7 Av serves the N, Q, R, and W lines, enabling quick Midtown and Downtown. connections and citywide connectivity.