Prime Development/Conversion Building in the Heart of Midtown For Sale
CBRE HAS BEEN RETAINED ON AN EXCLUSIVE BASIS to sell 304 West 49th Street (the Property), an existing parking garage with air rights that can be redeveloped for an array of highly valuable uses. Directly facing the internationally acclaimed Worldwide Plaza at the center of Midtown West, the Property is ideally situated to take advantage of its A plus location.
304 West 49th Street currently contains a 50’ wide, 6-story building measuring 28,245 sq. ft. and has an additional 7,404 sq. ft. of unused air rights.The Property, which can be delivered vacant, is split zoned with half of the lot lying in a C6-4 high density mixed-use zoning district and the other half of the lot positioned in an R8 residential zoning district. The total combined buildable square footage is 35,649 sq. ft. and the site can be developed or converted to several uses including residential, mixed-use, hotel and community facility.
The Property’s prime location offers substantial commuting options with the IND Eighth Avenue Line servicing the A, C and E subway lines on the block, footsteps from the building’s entrance.
There are multiple bus lines that cross cut 49th Street and 8th Avenue and provide access throughout the borough, including the M20, M50 and M104. Additionally, the Port Authority Bus Terminal, a major regional transportation hub, is a few blocks South of the Property.
304 West 49th Street presents a tremendous opportunity for a developer or owner-user to acquire a vacant building and reconstruct it to a diverse set of uses in one of Manhattan’s most well established sub markets.