Mixed-Use Development
For Sale
$8,000,000
347 Lexington Avenue, Manhattan, NY 10016
Assemblage includes a vacant two-family building with ground-floor commercial space and upper-level residential studios.
Property Size1,440 SF
Price / SF$5,555
Days on Market312
Property Features for 347 Lexington Avenue
General Information
Standard status
Active
Size
1,440 SF
Property subtype
Mixed Use
Amenities
No
Unfurnished
InUnit
Garden
Building Details
Year Built
1920
Listing Agency:
Sothebys International Realty
(212) 606-7742
Listed By:
Rosemarie Deane · License #30DE0814869
(212) 606-7742
Source:
Compass
Added: Oct 24, 2025
Changed: Aug 30
Last Checked: Aug 30 at 11:56PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Sothebys International Realty
Investment Insights
Based on property information with market context.
The offering includes 347 Lexington Avenue together with 345 Lexington Avenue as an assemblage for new construction. The combined project is planned for 54,210 square feet and may accommodate residential, office, hotel, retail, or community facility space. Both properties carry C5-3, MiD zoning, with a residential FAR of 10 and commercial and community facility FAR of 15. The assemblage provides 40 feet of Lexington Avenue frontage, and the properties are not landmarked.
347 Lexington Avenue currently contains a two-family structure with a ground-floor store and baking facilities, a second-floor salon, and two studio apartments on the third floor. The property will be delivered vacant. The site is positioned two blocks south of Grand Central in Murray Hill, between East 39th and East 40th Streets.
347 Lexington Avenue currently contains a two-family structure with a ground-floor store and baking facilities, a second-floor salon, and two studio apartments on the third floor. The property will be delivered vacant. The site is positioned two blocks south of Grand Central in Murray Hill, between East 39th and East 40th Streets.
Key Highlights
- Assemblage of 347 Lexington Avenue and 345 Lexington Avenue
- 54,210 square feet of proposed development
- C5‑3, MiD zoning for both properties
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
79,335
Businesses Nearby
Explore this area
Business Placement
Demographics for 10016, NY
62,336
Population
36,985
Households
1.7
Avg Household Size
34
Median Age
82%
College-Educated
97%
High-School Grad
0.5 sq mi
ZIP Area
124,672
Density / Sq Mi
$153,065
Median Household Income
$107,691
Median Earnings
$3,321
Median Rent
$928,400
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Assemblage includes a vacant two-family building with ground-floor commercial space and upper-level residential studios.
Where is this mixed-use property located?
The property is located at 347 Lexington Avenue Manhattan, NY.
What is the asking price?
The asking price for this property is $8,000,000.
What are key features of this property?
This property features: Assemblage of 347 Lexington Avenue and 345 Lexington Avenue; 54,210 square feet of proposed development; C5‑3, MiD zoning for both properties
