28 W 36th St
New York, NY 10018
Bureau Propriété À vendre

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.