28-30 W 37Th St New York, NY 10016

The property is a vacant, two-story commercial building encompassing 10,281 square feet. Constructed in 1996, it is situated on West 37th Street between Fifth and Sixth Avenues in Midtown. The building sits on a 4,758-square-foot lot with approximately 50 feet of frontage. It comprises three identical ground-floor retail units and a contiguous second-floor space. The ground floor features ceiling heights of approximately 22 feet, while the second floor offers 10-foot ceiling heights. The M1-6 zoning allows for the demolition of the existing structure and construction of a new building, with a 10 FAR for a total as-of-right ZFA of 47,580 square feet. The property's vacancy allows for immediate occupancy. It presents an opportunity for investors to renovate the commercial spaces. The location provides access to multiple subway lines and is within walking distance of the Empire State Building, Bryant Park, and Macy’s. The property is located near Penn Station, Grand Central Station, 34th Street- Herald Square and Port Authority. There is potential for future residential development due to the proposed "Midtown South Mixed-Use Plan" rezoning. City Planning has proposed plans for a rezoning of M-zoned properties in the district to allow for residential as-of-right.