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118 59Th St New York, NY 10022

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Prime Plaza District, 77,000 buildable sq ft

Property Features for 118 59Th St

General Information

Property type
Land

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Listing Contact
Bob Knakal
Bob Knakal

Listing Agency: BKREA Listing Agent: Bob Knakal

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

This exceptional development opportunity presents a 77,000-square-foot buildable site at 118-120 East 59th Street in New York City's coveted Plaza District. The site boasts 50 feet of frontage on East 59th Street, between Park and Lexington Avenues. Currently vacant and demolished, this property offers significant cost savings for developers. Zoned C5-2.5 MiD, it allows a maximum Floor Area Ratio (FAR) of 12.0 for commercial, residential (with off-site inclusionary), or community facility uses, translating to a maximum as-of-right Zoning Floor Area (ZFA) of 60,252 square feet. Approximately 16,487 square feet of development rights have been acquired, along with a light and air easement from the adjacent 116 East 59th Street, enabling a building cantilever. Pre-approved architectural plans from SLCE Architects LLP, though expired, are available, detailing a 40-story building with 29 units and utilizing approximately 76,739 ZFA. This location offers unparalleled access to high-end retail, restaurants, Central Park, the Plaza Hotel, MoMA, and multiple subway lines (4, 5, 6, N, R, and W) at the Lexington Avenue/59th Street station. The flexible zoning caters to diverse development plans, capitalizing on the area's strong residential, commercial, and tourist demand. This is a truly unique opportunity to create a landmark property in one of Manhattan's most desirable neighborhoods.
Property Profile Location Intelligence

Current Use by Public Records

Athletic Style Production Facility

Suggested Use

Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Gym & Fitness Center Skin Care Clinic

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

Location Insight

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City
New York
County
New York
State
New York
Longitude
-73.9690306
Latitude
40.7623412

FAQs

What type of property is this?
Land - Prime Plaza District, 77,000 buildable sq ft
Where is this land located?
The property is located at 118 59Th St New York, NY.
What are key features of this property?
This property features: 77,000-square-foot buildable site in Manhattan's Plaza District, at 118-120 East 59th Street.; Demolished and vacant, offering significant cost savings.; C5-2.5 MiD zoning allows 60,252 square feet as-of-right ZFA, with a 12.0 FAR.
(917) 509-9501 Call to check price and availability
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