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103 E 29th St

New York, NY 10016

$26,800,000

Land For Sale  •  0.09 ac

Property Details

  • Property Type Land
  • Lot Size 0.09 ac
  • Zoning C6-4A (R10a equivalent)
100 Transit Score
100 Walk Score

Description

Currently the location of the Deauville Hotel, 103 East 29th Street offers a wide range of options for a profitable development: From a residential condominium building in a supply-restrained dynamic neighborhood to an office building or school. 

Conveniently located just one block from a subway station at Park Avenue and 28th Street as well as in walking distance to Grand Central Station, the property is easily accessible.  Union Square and Madison Square Park can be reached within minutes (by subway or ten minutes walking). Major corporate headquarters are located in walking distance. 

The lot consists of a 3,792 sq.ft. irregularly shaped parcel with 45 feet of frontage on East 29th Street, 80 feet east of Park Avenue South on the north side of East 29th Street. The property is currently improved with a 19,565 square foot boutique hotel named The Deauville, built in 1901. The interior of the existing structure was completely demolished; ownership is removing the entire building at purchaser's request and at no additional cost. 

The Property is situated in a C6-4A (R10a equivalent) commercial zoning district and designated as Block 885 Lot 6 by the official tax maps for the City of New York. In C6-4A districts, the maximum residential floor area ratio (“FAR”) is 10.0, which yields 37,922 square feet of zoning floor area. With mechanical exclusions and the Quality Housing Bonus for a new high-end residential property a new structure can comprise 45,778 sq.ft. Ownership has prepared a detailed zoning and massing study, exploring the permitted dimensions of a residential development with a retail space/restaurant on the ground floor. Details are attached to this listing. Purchasers are advised to perform their own independent zoning review for their planned project.

Highlights

Prime Development Site in Nomad, ideal for a boutique-sized development in one of Manhattan's best locations
Attractive Pricing, smaller investment size overall
Flexible Zoning - Residential, Office, Hotel, Retail, Medical Office, School possible

Property Flyers

Public Transportation

Commuter RailDriveWalkDistance
New York Penn Station (NJT) Commuter Rail (Northeast Corridor Line, North Jersey Coast Line, Morris & Essex Morristown Line, Montclair-Boonton Line, Morris & Essex Gladstone Branch) 4 min 17 min 0.8 mi
New York Penn Station (LIRR) Commuter Rail (West Hempstead Branch, Ronkonkoma Branch, Long Beach Branch, Port Jefferson Branch, Hempstead Branch, Montauk Branch, Port Washington Branch, Far Rockaway Branch, Babylon Branch) 4 min 17 min 0.8 mi
Transit/SubwayDriveWalkDistance
28 Street (4,6 Line) Transit Stop 1 min 2 min 0.1 mi
33 Street (4,6 Line) Transit Stop 2 min 5 min 0.2 mi
23 Street (4,6 Line) Transit Stop 2 min 7 min 0.3 mi
28 Street (N,R Line) Transit Stop 2 min 8 min 0.4 mi
23 Street (N,R Line) Transit Stop 2 min 10 min 0.5 mi
AirportDriveWalkDistance
La Guardia Airport 15 min - 8.9 mi
Newark Liberty International Airport 30 min - 16.3 mi
John F. Kennedy International Airport 25 min - 16.8 mi
Thomas Guss 212-840-1616 New York Residence, Inc.
Thomas Guss 212-840-1616 New York Residence, Inc.