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333 West 38th Street
Hell's Kitchen, Manhattan | Eighth Ave & Ninth Ave
8,968 Square FeetDevelopment Site
$5,000,000
$5,000,000
Updated 6 years ago
Off Market

333 West 38th Street

Hell's Kitchen, Manhattan | Eighth Ave & Ninth Ave

8,968 Square FeetDevelopment Site

$5,000,000
floors5
Lot Size25'x98'
ZoneC6-4M
Building TypeLow-Rise
Price Per SF
$558

Building Amenities

  • Voice Intercom

Property Description for 333 West 38th Street

The subject property is a 5-story commercial building with significant development potential and will be delivered vacant. It is located on the north side of West 38th Street between Eighth and Ninth Avenue. The first and second floors are built 25’ by 100’ while the third, fourth, and fifth floors are built approximately 25’ by 62’. Currently, a publishing company occupies the entire building and uses the property as its headquarters. The property lies in preservation district P-2 within the Special Garment Center District, yielding an as-of-right commercial FAR of 10.0. A commercial FAR of 12.0 can be achieved by purchasing an additional 2.0 of FAR of air-rights from the city at approximately $110 per square foot as part of the District Improvement Fund Bonus (DIB). Similarly, the property’s as-of-right residential FAR of 6.5 can be increased by purchasing 2.5 of DIB FAR at the same price. A developer can further add 3 FAR of inclusionary housing, yielding a maximum residential FAR of 12.0. The zoning allows for a wide array of possibilities, including commercial office, hotel, retail, or residential.

Listing History for 333 West 38th Street

Now
11/08/2011
POM by Robert Knakal
Cushman & Wakefield
10/04/2011
Contract Signed by Robert Knakal
Cushman & Wakefield
Load More

Building Details for 333 West 38th Street

OwnershipDevelopment Site
Building TypeLow-Rise
Service LevelVoice Intercom
AgePre-War
AccessWalk-up
Floors5
Learn More About the Building

Transit and Citi Bike

Subway

42 St-Port Authority Bus Terminal
0.2 miles
34 St-Penn Station
0.21 miles
Times Sq-42 St
0.26 miles
34 St-Penn Station
0.35 miles
42 St-Bryant Pk
0.43 miles

Railroad

Penn StationLong Island Rail Road
0.33 miles

Citi Bike

8 Ave & W 38 St
0.06 miles
W 39 St & 9 Ave
0.1 miles

Contact Agents

Contact Agents

Robert Knakal
Cushman & Wakefield
Jonathan Hageman
Cushman & Wakefield
Elysa Berlin
Cushman & Wakefield

Hell's Kitchen | Manhattan

Quick Profile

There is some mystery surrounding Hell’s Kitchen and how it got its name. There’s the tale about two policemen discussing how horrendous the neighborhood was back in 1880’s. The rookie cop turned to the veteran cop and said, “this place is hell.” The veteran cop replied, “No, this is hell’s kitchen.” Some say it's named after a notorious 19th century motorcycle gang. Even the historians will tell you the neighborhood's name has dubious origins. 

Regardless of how it got its name, Hell’s Kitchen is here to stay.

Hell’s Kitchen is an iconic neighborhood on the west side of Manhattan. Its boundaries are 34th and 59th streets and 8th Avenue to the Hudson River. The neighborhood has a dense urban feel with plenty of bars, bodegas, restaurants and coffee shops. It’s inhabited by an eclectic mix of young professionals, long term residents from the old days, LGBQT community and members of the performing arts community - due to the highest number of off Broadway theatres in all of New York CIty. 

From the early 1800’s to the 1980’s, Hell’s Kitchen held the title for one of the toughest neighborhoods in the city. In its early history it was populated by poor working class Irish and street gangs. Riots, violence, and crime were not uncommon. During prohibition times it was said that Hell’s Kitchen had more speakeasies than children. 

Several attempts of neighborhood rebranding have taken place over the years. Clinton, Midtown West, and even the short-lived Hell’s Canyon are a few of the replacement names that have been used. Hell’s Kitchen has a lot of grit and no shortage of fortitude. A trendy name change seems doubtful. 

Hell’s Kitchen benefited greatly from the Times Square clean up in the 1990’s. When crime rates lowered and adult theatres and prostitution disappeared, Times Square became less sleazier. Soon after, Hell’s Kitchen changed. The days of Gangsters, Irish immigrants, and rough and tumble housing tenements are part of its storied history. They’ve been replaced with bars, bodegas, restaurants, off broadway theatres, and luxury buildings. The recent completion of Hudson Yards and the Highline extension has brought new life into Hell’s Kitchen 

Low-rises, brownstones, row houses and 5 to 6 floor walk ups with studio and one bedroom apartments are common in Hell’s Kitchen. The local zoning laws from previous years kept the building heights on the lower side. Over the past decade, developers have been granted exceptions to building height zoning laws and created more modern highrise developments.

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All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 28061TH
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