503-527 Smith Street
503-527 Smith Street, Brooklyn, NY, 11231, US
11 045 mètres carrés
Descriptif
Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis to arrange the sale of 43 West 33rd Street (“The Site”), a ~75,000 buildable square foot (“BSF”) development site in the heart of Midtown South Manhattan. The Site encompasses a 63’ wide, 6,268 square foot parcel situated on the north side of West 33rd Street between Fifth and Sixth Avenues. Currently, The Site is improved by a ~39,000 square foot, six-story office building. While the building is partially occupied, there are 90-day demolition clauses in all the leases that allow prospective developers to fully vacate the building and commence demolition. The Site falls within the C6-4.5 Special Midtown zoning district which provides developers with the option to build either a residential rental development under the Universal Affordability Program (“UAP”) or a residential condominium.
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Attributs
Block / Lot
835 / 11
Development Lot SF
6,268
Zoning
C6-4.5 (Special Midtown District)
Max FAR
12.0
Max ZFA
75,216
Site Frontage
~63'
Média
Points forts de l'investissement
Development Potential
The C6-4.5 Special Midtown zoning designation permits 10.0 residential FAR as-of-right, translating to 62,680 ZFA. Prospective developers have the option to utilize the UAP program which grants an additional 2.0 FAR bonus, so long as 20% of the units are affordable.
Developer Flexibility
The zoning and economics allow for the option to build either a rental, condo, or mixed-use project with a retail component on the lower floors.
Record Breaking Residential Market
In September 2025, the median rent for Manhattan apartments hit a record high of $4,972 amid low inventory and high demand. This proven local ecosystem, amplified by powerful city-wide market fundamentals, allows 43 West 33rd to capitalize on established demand and premium pricing by delivering a well-designed and efficient product.
Prime Midtown South Location
43 West 33rd Street is positioned in the vibrant Herald Square district of Midtown South, one of the city’s premier commercial and retail corridors. The building sits within blocks of iconic destinations including Macy’s Herald Square, Madison Square Garden, and the bustling Penn Station area
Connectivity
Located just two blocks from Penn Station and Moynihan Station, the building provides immediate access to 14 subway lines serving all five boroughs, PATH service to New Jersey, and regional rail including Amtrak, NJ Transit, and LIRR.
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43 West 33rd Street (0 Propriétés)
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Dernière mise à jour
3 déc. 2025
