Meridian Capital Group announced today that its Institutional Investment Sales Group, led by Helen Hwang, has been hired to market an outstanding Midtown development site located at 303-305 East 44th Street. Located between First and Second Avenues, the site features 47 feet of frontage along 44th Street with 100 feet of depth and allows for the development of a mixed-use building of over 90,000 SF.
The ease of access provided by Manhattan’s east side, as well as strong annual growth in home prices, point to a neighborhood teeming with growth potential. As a result of these factors, as well as an increase in searches of the area, Streeteasy named Turtle Bay as the #1 Neighborhood to Watch in 2023.
303-305 East 44th Street presents an opportunity for an investor to develop a unique, transit-oriented project situated just two blocks from Grand Central, and one block from the United Nations Secretariat Building. The neighborhood is also home to nearly 50 foreign consulates, providing a robust buyer pool in the immediate vicinity. The site is also as-of-right, shovel ready, with fully approved plans designed by world-renowned architect, ODA.
The plans depict a stunning, 41-story condominium tower that will transform the New York City skyline. Sprawling, full-floor units occupy the upper floors and have access to private terraces, providing panoramic views of the cityscape. In addition, the floors were designed in a manner to allow for either larger, full-floor 3-bedrooms or a combination of efficient 2- and 1-bedroom units, depending upon the desires and demands of the marketplace.
“With such a rich buyer pool in the area and immediate access to the Manhattan’s transportation hub, there will be no shortage of demand for this transformative property,” said Helen Hwang, Senior Executive Managing Director and Head of Meridian’s Institutional Investment Sales Team.