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591 Park Ave 9 Unit Apartment Building For Sale New York, NY 10065
INVESTMENT HIGHLIGHTS
- Located on Park Avenue in the heart of Lenox Hill
- Four-sided exposure with permanent natural light access
- Eligible for up to 23,892 SF under UAP zoning
- Delivered vacant for immediate redevelopment
- Positioned steps from Central Park and cultural institutions
- Sliver Law eliminated, allowing enhanced design flexibility
EXECUTIVE SUMMARY
Positioned on the East side of Park Avenue between East 63rd and 64th Streets, 591 Park Avenue presents a rare and prestigious development opportunity in Manhattan’s Lenox Hill neighborhood. The site spans 1,991 square feet and currently hosts an 8,250-square-foot vacant structure, offering developers a clean slate for transformation. With zoning that allows for up to 23,892 buildable square feet under the Universal Affordability Preference (UAP), the property is ideally suited for luxury residential or boutique hospitality development.
The location benefits from direct Park Avenue frontage, ensuring high visibility and architectural prominence. The surrounding area is defined by historic elegance and modern affluence, with Central Park, Madison Avenue shopping, and cultural institutions like The Metropolitan Museum of Art just steps away. The recent elimination of the Sliver Law under the City of Yes initiative further enhances the site’s development potential, allowing for greater height and design flexibility on narrow lots.
Unique to this parcel is its four-sided exposure, including a north-facing façade adjacent to a church lightwell, enabling abundant natural light and air—an uncommon advantage in dense urban settings. The site’s boutique scale invites a high-end, tailored design that can integrate seamlessly with neighboring historic buildings while offering modern luxury. With unmatched transit access via multiple subway lines, buses, and ferry service, this address combines prestige, convenience, and long-term value in one of New York’s most coveted districts.
The location benefits from direct Park Avenue frontage, ensuring high visibility and architectural prominence. The surrounding area is defined by historic elegance and modern affluence, with Central Park, Madison Avenue shopping, and cultural institutions like The Metropolitan Museum of Art just steps away. The recent elimination of the Sliver Law under the City of Yes initiative further enhances the site’s development potential, allowing for greater height and design flexibility on narrow lots.
Unique to this parcel is its four-sided exposure, including a north-facing façade adjacent to a church lightwell, enabling abundant natural light and air—an uncommon advantage in dense urban settings. The site’s boutique scale invites a high-end, tailored design that can integrate seamlessly with neighboring historic buildings while offering modern luxury. With unmatched transit access via multiple subway lines, buses, and ferry service, this address combines prestige, convenience, and long-term value in one of New York’s most coveted districts.
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1.5 | 9 | - | - |
1 1
Walk Score®
Walker's Paradise (97)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 1398-0172 | Improvements Assessment | $510,050 |
| Land Assessment | $630,000 | Total Assessment | $1,140,050 |
PROPERTY TAXES
Parcel Number
1398-0172
Land Assessment
$630,000
Improvements Assessment
$510,050
Total Assessment
$1,140,050
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