Avison Young announces the listing of an office property at 4 West 43rd Street off Manhattan’s Fifth Avenue on behalf of owner Holy Spirit Association (HSA). The 72,568-square-foot (sf) property includes a ZFA of 125,530-sf for residential development (10x FAR with potential for an additional 2x FAR through an amenity bonus as per ZR 81-241) and 150,636-sf for commercial development (12x FAR). There is a path to fully vacating the Property, making it a considerable development opportunity.
Given the development potential and vacant delivery of the property, the eventual sale of the property could likely lead to a brand-new building spanning over 150,000-sf, taking advantage of a substantial amount of unused air rights with the ability to be transferred to the parcel,” said Marolda.
