28-30 37Th St New York, NY 10018

This exceptional Midtown Manhattan property at 28-30 West 37th Street presents a compelling investment opportunity. The 10,281 square foot, two-story commercial building sits on a 4,758 square foot lot with approximately 50 feet of frontage. Currently vacant, the property offers immediate user occupancy or value-add potential through refurbishment of the three ground-floor retail units and one second-floor space. Each ground-floor unit includes a mezzanine, with 22-foot ceilings on the ground floor and 10-foot ceilings on the second. The M1-6 zoning allows for significant redevelopment, with a 10 FAR yielding a 47,580 square foot as-of-right floor area. This presents a unique chance to leverage substantial air rights (37,299 sq ft) and potentially benefit from the proposed Midtown South Mixed-Use Plan rezoning, which may allow for future residential development. The property's prime location in Midtown Manhattan, near major transportation hubs (Penn Station, Grand Central Terminal, 34th Street-Herald Square), and cultural landmarks (Empire State Building, Bryant Park, Macy's) ensures high visibility and accessibility. The asking price is $10,500,000. This is a rare chance to acquire a strategically located asset with significant upside potential in one of Manhattan's most dynamic neighborhoods.