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245-247 West 34th Street, New York, NY 10001 - Availability Details

245-247 West 34th Street, New York, New York, 10001, New York, NY 10001

  • For Sale Contact for pricing
  • City New York
  • Neighborhood Garment District
  • Zip Code 10001
  • Market Manhattan
  • Property Type Unassigned
  • Lot Size 0.1 Acre
  • Building Class V1
  • Year Built 1925
  • Date Updated 24 Jun, 2021
Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale, joint venture or ground lease of 245-247 West 34th Street, a 4,509 square foot vacant lot on the north side of West 34th Street between Seventh and Eighth Avenues. The lot is zoned C6-4M (R10), with a 10.0 FAR for hotel, office, residential, community facility, retail or any variation of mixed-use. This brings the total ZFA for development to approximately 45,090 square feet with the ability to add another 2.0 FAR through the Inclusionary Housing Program by acquiring CB5 air rights which are readily available.

The site features 45’ of valuable retail frontage along 34th Street between two of the busiest intersections in Manhattan which are on Seventh and Eighth Avenues and 34th Street. The site is directly across from Penn Station, Madison Square Garden, Macy’s and the Herald Square shopping district.

Located in the heart of the Penn District, 245 West 34th Street is poised to benefit tremendously from the more than $50 billion of institutional capital that is being invested in Manhattan’s West Side as well as the migration of tenants from the Midtown Plaza District to Hudson Yards, Chelsea, the Meatpacking District, and the Penn District. Situated at the confluence of the thriving Midtown West, Manhattan West, Hudson Yards, NoMad/Flatiron and Midtown neighborhoods, the Penn District is positioned to benefit significantly from the surge in both office and hotel demand
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Contacts

broker

John Ciraulo

Cushman & Wakefield

(212) 660-7700

broker

Craig Waggner

Cushman & Wakefield

(212) 660-7744

broker

Michael Kavanagh

Cushman & Wakefield

(212) 660-7765

broker

John Paul Will

Cushman & Wakefield

(212) 660-7718

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