42 E 23rd St
New York, NY 10010
Office Property For Sale

BKREA has been retained on an exclusive basis to arrange the sale of 42 East 23rd Street (“The Property”), a remarkable eight-story commercial building that is currently vacant. The Property has a lot area of approximately 2,469 square feet and is located on the south side of East 23rd Street, with roughly 25 feet of frontage between Park Avenue South and Broadway. It is just steps from Madison Square Park and in close proximity to the Flatiron Building, one of New York City’s most iconic landmarks. Constructed in 1905, 42 East 23rd Street comprises a total of 17,078 gross square feet. The Property is located within a C6-4M (R10 equivalent) zoning district. The as-of-right zoning allows for a 10.0 FAR for residential, commercial, and community facility uses, translating to approximately 24,690 zoning floor area (ZFA). Given the R10 equivalent, the site can achieve up to a resi FAR of 12.0 or 29,628 ZFA through the purchase of off-site UAP certificates from a generating site within Community Board 5 or within one-half mile of the Property. Alternatively, the additional 2.0 FAR may be built on-site through the inclusion of affordable housing. 42 East 23rd Street presents a blank slate for developers, conversion specialists, office investors, or owner-users to bring their new vision to life.