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    55 West 38Th St New York, NY 10018

    New
    For Sale
    $6,800,000

    Vacant Land, Low-rise - New York, NY

    Property size:
    6,000 SF
    Days on Market:
    2
    Last Refresh:
    Dec 8 at 12:06 pm

    Property Features for 55 West 38Th St

    General Information

    Property type
    Land
    Property subtype
    Other
    Standard status
    Active
    Rooms
    Bathroom 1, Bathroom 2, Bathroom 3, Bathroom 4, Bathroom 5
    Bathrooms
    5
    Parking features
    Garage
    Size
    6,000 SF

    Building Details

    Architectural style
    Other

    Compass

    Listing agent Nikki Sun

    Listing date Dec 7, 2025

    MLS# 11610350 Listing URL

    Copyright © 2025 My State MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Midtown Development Opportunity For Sale

    This property presents an exceptional development opportunity in the heart of Midtown Manhattan. Situated steps from Bryant Park, Herald Square, and major transit hubs, the location offers zoning flexibility and substantial unused buildable area. The lot size is approximately 1,975 square feet (20 ft x 98.75 ft). The property is zoned M1-9A / R12, a versatile designation supporting significant residential development. The residential FAR is 12.0. The existing structure is approximately 6,000 square feet. With a total allowable floor area of 23,700 square feet, the property delivers a compelling opportunity for new construction or strategic expansion. There is approximately 17,700 square feet of unused residential buildable area. This is suited for ground-up residential development, vertical expansion of the existing building, or value-add repositioning for rental, condo, or mixed-use applications. The zoning, scale, and location are ideal to realize a standout project.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Class Bar Kitchen Provance Caterers Caterer Nicky's Gourmet Restaurant Total Environmental Associates Environmental Consultant Poster Zones E-Commerce Service

    Suggested Use

    Restaurant Realty agency Spa & Massage Hair Salon Dental Office Nail Salon Food Market Grocery Store Daycare Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.985012
    Latitude
    40.75215

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    FAQs

    What type of property is this?
    Commercial land - Prime Midtown Manhattan development site with significant buildable area.
    Where is this commercial land located?
    The property is located at 55 West 38Th St New York, NY.
    What is the asking price?
    The asking price for this property is $6,800,000.
    What are key features of this property?
    This property features: - Prime Midtown Manhattan location, steps from Bryant Park and Herald Square.; - Substantial unused residential buildable area of approximately 17,700 sq ft.; - Highly versatile M1-9A / R12 zoning supporting significant residential development.
    (212) 913-9058
    Request Owner's contact information
    55 West 38Th St New York, NY 10018
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    55 West 38Th St New York, NY 10018
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