281 Park AveNew York, NY 10010

Property Details for 281 Park Ave

Property size (Sq ft)

42,500 SF

Property type

Retail properties

Property subtype

Restaurants

Description

This stunning six-story, 42,500 square foot Beaux-Arts building, located at 281 Park Avenue South in Gramercy Park, New York, NY 10010, presents a rare investment opportunity. Originally constructed in 1894 and designated a New York City landmark in 1979, and added to the National Register of Historic Places in 1982, this property boasts 80 feet of frontage on Park Avenue South and 70 feet on East 22nd Street. The building features impressive ceiling heights ranging from 10 to 20 feet, with vaulted ceilings on the sixth floor offering expansive views. Two full kitchens are included, one on the ground level and another in the below-grade space. The property also includes two passenger elevators, one freight elevator, and a dedicated elevator servicing the second-floor restaurant space. Renovated in 2019, the building offers exceptional built-out restaurant and event spaces, ideally suited for hospitality use. A notable feature is the second-floor restaurant space with breathtaking arched stained-glass windows and hand-painted murals. An additional 2,700 square foot annex space at 277 Park Avenue South, currently leased, is available for purchase but not required. Currently vacant, this property offers a blank canvas for an owner-occupant to create their vision, potentially utilizing the upper floors while generating income from ground and second-floor operations. This is a chance to acquire one of Manhattan's most recognizable assets in an irreplaceable location.

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7392

Longitude

-73.9867

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