3 Locations

Beyond Capital Team and Keller Williams NYC has been retained on an exclusive basis to offer a rare offering consisting of three contiguous parcels located at the highly visible intersection of Third Avenue and East 56th Street in Midtown Manhattan.

The assemblage represents an opportunity to acquire a prime development site with substantial as-of-right buildable square footage in one of Manhattan's most desirable mixed-use corridors. The three contiguous parcels comprise a combined lot area of approximately 4,795 square feet, situated at the highly coveted intersection of Third Avenue and East 56th Street in the heart of Midtown Manhattan. In the aggregate, the assemblage yields a total as-of-right commercial buildable square footage of approximately 71,370 BSF and 47,580 BSF of as-of-right residential air rights — representing one of the most compelling ground-up development opportunities currently available in Manhattan's Midtown East submarket.

All three parcels are zoned C6-6 with an R10 overlay, among the most permissive commercial designations in New York City, supporting a broad range of as-of-right development programs including luxury residential, boutique hotel, mixed-use commercial, or a combination thereof. Collectively, the assemblage is eligible for the Universal Affordability Preference (UAP) bonus, which would allow a developer to increase the blended residential FAR across all three parcels to 12.0 — unlocking an additional approximately 5,750 BSF of residential density above the as-of-right baseline. This incremental density is achievable through the purchase of off-site UAP air rights within the applicable community board or within a 1/2-mile radius of the site, or through the inclusion of affordable housing on-site.

The assemblage is supported by strong in-place income across all three parcels, generating a current scheduled annual gross income of approximately $1,344,529 and a projected net operating income of approximately $764,401, providing a developer with meaningful cash flow throughout the pre-development period. The seller is offering the assemblage at a total ask of $30,000,000, reflecting approximately $420 per commercial buildable square foot on the 71,370 BSF as-of-right commercial program — a compelling basis for a Midtown East development site of this scale, visibility, and zoning flexibility.