103 E 29th St
New York, NY 10016
Land For Sale · 0.10 AC

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.