Midtown Manhattan development site sold for $14 million

BKREA has announced the sale of 21-23 West 45th Street, a two-lot development site located in Midtown Manhattan, for $14,000,000. The transaction, which closed on September 16, 2026, involves a site situated between Fifth Avenue and Avenue of the Americas, near Bryant Park and Times Square.

The assemblage consists of two tax lots containing approximately 23,374 square feet of existing commercial space. Under C6-4 zoning within the Special Midtown District, the site offers an as-of-right floor area ratio of 10.0, providing approximately 50,210 buildable square feet. The sale price equates to roughly $279 per buildable square foot.