301 Third Avenue
New York, New York
Building
Stats
- Property Type Retail - Street Retail
- Building size (SF) 14,456
Overview
Avison Young, as exclusive agent, is pleased to offer for long-term ground lease a development site located at 301-307 Third Avenue (a.k.a. 201-203 East 23rd Street) (“the Property” or “Site”) at the confluence of two Manhattan neighborhoods – Gramercy Park and Kips Bay. The 7,227± SF corner lot features 172 feet of wraparound frontage, with 74 feet along the eastern side of Third Avenue and 98 feet along the northern side of East 23rd Street. The Property lies within C2-8A zoning district (R10A equivalent), offering 10.0x Floor Area Ratio (FAR) as of right and 12.0x FAR with the (voluntary) Inclusionary Housing (“IH”) Bonus. This equates to 72,268 SF as-of-right or 86,721 SF with the IH density bonus.
Highlights
Corner lot with a combined 172’ of frontage along Third Avenue and East 23rd Street – both wide streets
Maximum 72,268± square feet of Zoning Floor Area as-of-right or 86,721± square feet of Zoning Floor Area with the Inclusionary Housing bonus
Flexibility in development plan of market rate rentals, affordable rentals, or institutional use
Proximity to 6 train at 23rd Street/Park Avenue South station and N/R/W trains at 23rd Street/Broadway Station
Desirable Gramercy Park/Kips Bay location near Madison Square Park, Union Square Park and Stuyvesant Square Park
Not subject to Historic District or Landmark Designation
Full possession by November 2022
Team
Erik Edeen
Principal, Director of Investment Sales Operations
Avison Young - US - NY - New York
203 927 7480
James Nelson
Principal, Head of Tri-State Investment Sales
Avison Young - US - NY - New York
917 362 1485
Brandon Polakoff
Principal, Executive Director of Tri-State Investment Sales
Avison Young - US - NY - New York
609 610 1771