Listing Details
- Space Type
land
- Sub Category
commercial
- Sale Type
Development Sale
- Date Listed
3/24/2025
Property Specifics
- Property Name
591 Park Ave
- Building Size
23,892 SF
- Lot Size
1,991 SF
- Zoning
R10, PI
Highlights
• Prime Park Avenue Address - Located on one of Manhattan's most iconic avenues, 591 Park offers unmatched prestige and visibility in the heart of the Upper East Side. • Steps from Central Park - Just a short stroll to Central Park, the site provides future residents or tenants with access to one of the world's most renowned urban green spaces. • Vacant Possession - The existing building will be delivered vacant, providing time and cost savings. • Architectural Integration Opportunity - Flanked by two historic buildings, the site invites innovative design that can seamlessly blend modern luxury with timeless architectural elegance. • Unrivaled Visibility - Park Avenue frontage ensures high visibility on a wide street, making it an ideal location for a statement residential development. • Boutique Development Potential - The smaller footprint provides a unique opportunity to craft an exclusive, high-end project tailored to discerning buyers or tenants.
Description
BKREA has been exclusively retained to arrange the sale of 591 Park Avenue (“The Property”), a prime development site in the prestigious Lenox Hill neighborhood of Manhattan. Property Overview • Location: East side of Park Avenue, between East 63rd & 64th Streets. • Frontage: Prominent Park Avenue exposure in a high-demand luxury corridor. • Existing Structure: 8,250 SF vacant building, primed for redevelopment. Zoning & Development Potential • Max ZFA: 23,892 SF (with Universal Affordability Preference – UAP). • Flexible zoning allows for luxury residential or hospitality use. • Delivered vacant, allowing for full-scale redevelopment. Unmatched Location & Accessibility • Steps from Central Park, providing prestige and desirable green space access. • Surrounded by world-class dining, luxury retail, and renowned cultural institutions. • Easy access to Midtown’s commercial district, attracting high-net-worth residents and investors. 591 Park Avenue presents a unique opportunity for developers to create a high-end residential or hospitality project in one of NYC’s most exclusive neighborhoods.