4 West 43rd Street, New York, NY, 10036

4 West 43rd Street New York, NY 10036

4 West 43rd Street, New York, NY, 10036
4 West 43rd Street, New York, NY, 10036 4 West 43rd Street, New York, NY, 10036 4 West 43rd Street, New York, NY, 10036 4 West 43rd Street, New York, NY, 10036 4 West 43rd Street, New York, NY, 10036 4 West 43rd Street, New York, NY, 10036 4 West 43rd Street, New York, NY, 10036 4 West 43rd Street, New York, NY, 10036 4 West 43rd Street, New York, NY, 10036 4 West 43rd Street, New York, NY, 10036 4 West 43rd Street, New York, NY, 10036 4 West 43rd Street, New York, NY, 10036 4 West 43rd Street, New York, NY, 10036 4 West 43rd Street, New York, NY, 10036 4 West 43rd Street, New York, NY, 10036
FOR SALE
Property Type:
Multi Tenant Office
Amount:
Please Call Broker for Price

Last Verified:
Jul 24, 2024

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Highlights

  • 125,530± buildable square foot residential development potential (10 FAR)
  • MiD allows for an additional 2x FAR amenity bonus as per ZR 81-241, increasing the total BSF to 150,636 (not required to purchase off-site inclusionary housing certificates)
  • Opportunity for 180,000+ buildable square feet (14.4x FAR) with the new City of Yes program
  • Boasting 125’ of frontage along West 43rd Street
  • Meticulously maintained 72,500+ square foot building offers an exceptional user opportunity including school, dorm, medical, private club or office use
  • Irreplaceable Location One Block from Bryant Park, Grand Central Terminal & Times Square
  • Stunning views of the Empire State Building and New York Public Library
  • Seamless access to transportation (b / d / f / m / n / q / r / w / 1 / 2 /3 /4 / 5 / 6 / 7)

Description

Avison Young has been exclusively engaged to offer for sale 4 West 43rd Street (the “Property”), a to-be-delivered-vacant 7-story plus penthouse commercial property boasting 125’ of frontage on the south side of West 43rd Street between 5th Avenue and 6th Avenue in the Bryant Park neighborhood of Midtown Manhattan. The Property was originally constructed in the 1890s and has been meticulously maintained throughout the years. Today the Art-Deco building spans 72,568± square feet and comprises an event space on the ground floor and seven stories of office space above, featuring over 10’ ceiling heights throughout.

Additionally, the Property boasts tremendous development potential as it is situated on a 125’ x 100’ lot, allowing for 125,530± buildable square feet for residential (with potential for an additional 2x FAR through ZR 81-241) and 150,636± buildable square feet for commercial development in Manhattan’s premier office market and fastest-growing residential market. The development project will boast sweeping New York City views, including stunning southern views of the New York Public Library and the Empire State Building.

manhattan

Building Size: 72568sq ft
Building Class: A
Lot Size: 0.29 acres

Map of 4 West 43rd Street, New York, NY, 10036

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.