Description

BKREA has been exclusively retained to arrange the sale of 42 East 23rd Street, an eight-story vacant commercial building offering a compelling redevelopment or conversion opportunity in Manhattan’s Flatiron District. Located on the south side of East 23rd Street between Park Avenue South and Broadway, the property features approximately 25 feet of frontage and sits just steps from Madison Square Park and near the iconic Flatiron Building, placing it in one of Manhattan’s most vibrant and transit-accessible neighborhoods. The site encompasses approximately 2,469 square feet and is improved with a 17,078-square-foot building constructed in 1905. Zoned C6-4M, equivalent to R10, the property allows 24,690 square feet of as-of-right zoning floor area, with the potential to increase to 29,628 square feet through the Universal Affordability Preference program or on-site affordable housing. Delivered fully vacant, the asset offers a true blank-slate opportunity with flexible zoning that supports residential, commercial, mixed-use, or owner-occupancy strategies, making it ideal for investors, developers, or end users seeking a prime Flatiron address with strong long-term demand drivers.