617 - 621 SECOND AVENUE

For Sale - Manhattan - Kips Bay

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Key Details

Property Type
Mixed Use
Neighborhood
Kips Bay
Property Dimensions
61.67 x 70.0
Property Area
43,190 sq.ft.
Total Units:
13
Stories:
4
NOI
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Price
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Price Per Unit
-
Cap Rate
-%

Listing Description

Avison Young, as exclusive agent, is pleased to offer a development site at 617-621 Second Avenue (“Property” or “Site”) in the Murray Hill neighborhood of Manhattan. The Property features a combined 132± feet of wraparound frontage on the corner of 34th Street and Second Avenue. The Property provides developers with the opportunity to create a highly visible development on one of the most prominent corners in Murray Hill.

The site is comprised of three adjoining lots which have a combined lot size of 4,319± square feet. All three lots are zoned C1-9A, which has an R10A residential equivalent, allowing a maximum residential FAR of 10.00x and the potential to develop up to 43,190± square feet. With frontage on one of Murray Hill’s strongest commercial corridors, 617-621 Second Avenue offers prospective retailers exceptional visibility.

The corner development lot is conveniently located adjacent to the M34/M34A 34th Street Select Bus Service, a block from the Midtown Tunnel Approach and within walking distance from NYU Langone Medical Center. The site will also benefit from Phase 3 of the Second Avenue Subway which will have a station at 2nd Avenue and 34th Street once completed. 617- 621 Second Avenue presents a unique opportunity for an investor or developer to acquire an irreplaceable corner site in the popular Manhattan neighborhood of Murray Hill.

· 43,190± residential ZFA
· C1-9A zoning district, which has a R10A equivalent
· 70± feet of street frontage on East 34th Street and 62± feet of street frontage on 2nd Avenue
· In-place month-to-month tenancy offers covered land strategy
· Proximity to NYU Langone
· Nearby the M34/M34A 34th Street Select Bus Service, the East 34th Street NYC Ferry stop
· Not subject to Historic District or Landmark Designation
· Will benefit from Phase 3 of the 2nd Avenue Subway project

Property Details

Block/Lot:
914/33, 34, 35
Lot Dimensions
61.67 x 70.0
Lot Area
4,319 sq.ft
Zoning:
C1-9A
FAR as Built:
3.0
Max FAR:
10.0
Alexandra MaroldaAvison Young
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Sales & Transactions

AddressSale PriceSale DateProperty Type
460-520 2ND AVENUE$620,000,00012/08/2016Mixed Use
240 1 AVENUE$4,111,111,76612/18/2015Mixed Use
342 1 AVENUE$1,345,485,01912/18/2015Mixed Use
377 1 AVENUE$6,000,00010/23/2015Mixed Use
379 1 AVENUE-09/28/2015Mixed Use
383 1 AVENUE$18,500,00009/11/2015Mixed Use
343 EAST 33 STREET$5,900,00009/10/2015Mixed Use
301 EAST 21ST STREET$167,500,00005/08/2015Mixed Use