62-64 East 34th Street

Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of 62-64 East 34th Street, a mixed-use building and development opportunity, located on the north side East 34th Street between Park Avenue and Madison Avenue in Manhattan’s Midtown South / Murray Hill neighborhood. Located just off the southwest corner of East 34th Street and Park Avenue, the property is currently a 5-story plus penthouse, 18,680 SF mixed-use elevator building with 16 units consisting of 2 retail stores, 1 second floor office space, and 13 residential units. The residential units are all either free market or vacant and the commercial tenants all have termination/buyout clauses offering developers the opportunity to capitalize on the tremendous redevelopment potential within a short time frame in an area that has been transformed by a surge in recent successful development projects. 62-64 East 34th Street is ideal for development with a maximum buildable square footage of approximately 57,727. The 4,314 gross square foot lot is split zoned between a C5-2 (54% lot coverage) and C5-3 (46% lot coverage) zone, both of which allow retail, office, hotel, residential and student housing. The C5-2 portion has a 10.0 FAR for both Residential and Commercial uses. The C5-3 portion has a Commercial and Residential FAR of 15.0 and 10.0, respectively. Both zoning designations have an additional 2.0 bonus FAR for Inclusionary Housing.