339-345 33Rd StNew York, NY 10016

This exceptional mixed-use development opportunity in Manhattan's Kips Bay neighborhood offers significant potential. Located at 339-345 East 33rd Street, the property boasts a substantial 90-foot frontage on a 8,888 square foot lot. Currently improved with four four-story buildings, the site is being prepared for vacant delivery, with the option for purchase as-is. The property includes 39 existing units (3 RS tenants at 339 East 33rd Street, 1 RC tenant at 339 East 33rd Street, 1 RS tenant at 341 East 33rd Street, and 1 RS tenant at 343 East 33rd Street). Zoned C1-9A (R10A), and situated within a MIH area, the site allows for a 12.0 FAR for residential use, translating to a 122,846 square foot as-of-right ZFA. Purchased air rights from the adjacent lot increase the maximum ZFA to 130,350 square feet. Approved 421A plans, utilizing MIH Option 1 and extended deadline, are included, detailing a 23-story, 130,194 ZFA mixed-use project with 160 units (39 MIH units). All plan details are available. The property's prime location offers convenient access to public transportation, including the 33rd Street subway, numerous bus routes, and the East 34th Street ferry. This presents a unique opportunity to capitalize on the growth and demand in the burgeoning Kips Bay neighborhood. The seller is open to both outright sale and joint venture proposals.