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28 W 36th St
New York, NY 10018
Office Property For Sale
INVESTMENT HIGHLIGHTS
- Bankruptcy sale with no transfer taxes, stamp taxes, or mortgage recording taxes.
- Flexible zoning allows multiple strategies: residential conversion, ground-up development, or continued office use.
- Clear path to vacancy by Q3 2027 with in-place income during transition.
- Significant FAR increase, now totaling 88,308 SF of buildable area.
- Eligible for major tax abatements under 467-M and 485-X programs.
EXECUTIVE SUMMARY
28 West 36th Street | Auction: February 9–11, 2026
Opportunity to acquire a 12-story, 70,000 RSF office and retail property in the heart of Midtown South through a bankruptcy sale. This asset offers exceptional upside with a significant FAR increase, adding 29,800 buildable SF for a total maximum ZFA of 88,308 SF. The property’s flexible zoning and building characteristics create multiple business plan options, including as-of-right residential conversion, ground-up development, self-storage conversion, or continued office use.
Investors will benefit from unique financial advantages: no transfer taxes under §1146(a) and eligibility for substantial tax abatements through the 467-M program for residential conversion or the 485-X program for new residential construction. The property’s large 4,906-SF lot supports generous floor plates, enabling versatile layouts and maximizing the FAR increase.
Currently 91% leased, the building transitions to just 13% leased by the end of Q3 2027, providing a clear path to vacancy while maintaining interim cash flow. Positioned in one of Manhattan’s most dynamic neighborhoods, this offering combines immediate income with long-term redevelopment potential, its an ideal scenario for visionary investors.
Opportunity to acquire a 12-story, 70,000 RSF office and retail property in the heart of Midtown South through a bankruptcy sale. This asset offers exceptional upside with a significant FAR increase, adding 29,800 buildable SF for a total maximum ZFA of 88,308 SF. The property’s flexible zoning and building characteristics create multiple business plan options, including as-of-right residential conversion, ground-up development, self-storage conversion, or continued office use.
Investors will benefit from unique financial advantages: no transfer taxes under §1146(a) and eligibility for substantial tax abatements through the 467-M program for residential conversion or the 485-X program for new residential construction. The property’s large 4,906-SF lot supports generous floor plates, enabling versatile layouts and maximizing the FAR increase.
Currently 91% leased, the building transitions to just 13% leased by the end of Q3 2027, providing a clear path to vacancy while maintaining interim cash flow. Positioned in one of Manhattan’s most dynamic neighborhoods, this offering combines immediate income with long-term redevelopment potential, its an ideal scenario for visionary investors.
PROPERTY FACTS
Sale Type
Investment
Sale Conditions
Property Type
Office
Building Size
66,500 SF
Building Class
B
Year Built/Renovated
1911/2007
Percent Leased
98%
Tenancy
Multiple
Building Height
12 Stories
Typical Floor Size
5,200 SF
Slab To Slab
12’
Building FAR
12.72
Lot Size
0.12 AC
Zoning
M1-6, New York - Light Manufacturing Zoning district in NYC. You can develop multiple uses in M1-6 including manufacturing, commercial, and community facility.
AMENITIES
- 24 Hour Access
- Concierge
- Air Conditioning
PROPERTY TAXES
| Parcel Number | 0837-0062 | Improvements Assessment | $6,366,293 CAD |
| Land Assessment | $2,497,320 CAD | Total Assessment | $8,863,613 CAD |
PROPERTY TAXES
Parcel Number
0837-0062
Land Assessment
$2,497,320 CAD
Improvements Assessment
$6,366,293 CAD
Total Assessment
$8,863,613 CAD
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