201 W 54th St 0.17 Acres of Commercial Land in New York, NY 10019

BKREA has been exclusively retained to arrange the sale of 201 West 54th Street, a premier Midtown Manhattan development opportunity featuring grandfathered hotel plans.
Located at the northwest corner of West 54th Street and Seventh Avenue, the site offers a rare as-of-right hotel development opportunity in one of Manhattan’s most active commercial corridors.
Location Details
Rectangular lot spanning approximately 7,542 square feet.
Features 175 feet of wraparound frontage — 75 feet along Seventh Avenue and 100 feet along West 54th Street.
Fully demolished, allowing immediate construction and saving substantial time and cost.
Situated near major Manhattan attractions including Rockefeller Center, MoMA, Bryant Park, Columbus Circle, Times Square, and Fifth Avenue.
Excellent transit access:
7 Av–53 St Station (D, E lines) – 2-minute walk.
57 St–7 Av Station (N, Q, R, W lines) – two blocks north.
Site Specifications
Zoning: C6-6 (R10 equivalent) within the Special Midtown District (MiD).
Lot Area: 7,542 square feet.
As-of-right Use: Hotel or residential development permitted.
Floor Area:
Base allowable FAR increased via Theater District Bonus Programs and Transferable Development Rights (TDRs).
Total allowable ZFA: 192,508 square feet (all acquired and included in sale).
Development Plans
Architect: SLCE Architects, LLP.
Approved Plans: 41-story hotel totaling 179,812 ZFA, featuring 512 keys and multiple amenity levels, including a hotel bar.
Additional Air Rights: Allow for expansion up to 192,508 ZFA if plans are amended.
Grandfathered Status:
Hotel can be built as of right — no Hotel Special Permit required.
Substantial completion must occur by December 9, 2031 to maintain grandfathered rights.
Optional Residential Development:
Site also supports as-of-right residential construction with potential Central Park views.
Potential Efficiency Gains:
Future revisions may benefit from City of Yes zoning updates, including Ultra-Low Energy and Corridor deductions, potentially increasing key count.
Neighborhood Demand Drivers
Located in the heart of Midtown Manhattan, surrounded by world-class office, hotel, retail, and residential properties.
Exceptional proximity to major tourist destinations, entertainment, and business districts.
Supported by strong hospitality demand and robust pedestrian activity.
Opportunity Highlights
One of New York City’s last remaining sites with grandfathered hotel plans.
Fully entitled and demolished, offering immediate development readiness.
Flexible development potential — hotel or residential.
All air rights and approvals included, creating a turnkey, large-scale opportunity in a globally recognized location.
Positioned to capitalize on Midtown’s unmatched connectivity and enduring market strength.