Newmark has been retained as the exclusive broker for the potential sale of 222 East 46th Street (“the Property”), a development site in the Turtle Bay neighborhood of Midtown East, Manhattan. The Property is a 5,943-square-foot lot with approximately 60 feet of frontage along the south side of East 46th Street between Second and Third Avenues. The Property is zoned R10 and allows for a 10.0 Floor Area Ratio (FAR) as of right and a 12.0 FAR for residential development with the Inclusionary Housing bonus. The Property can be developed into a residential building including 71,316 zoning square feet as of right. There are 28,346 ZSF of transferable development rights available from 228 East 46th Street (Lot 37). These air rights have no other receiver site, and could be purchased and transferred to the Property as-of-right. There is no agreement in place for this transfer. This would increase the size of the project to up to 99,662 ZSF including potential development rights transfer from Lot 37. 222 East 46th Street offers convenient access to some of the city’s most iconic landmarks including the Chrysler Building and the United Nation’s Headquarters as well as some offices of the world’s largest employers: JP Morgan, Pfizer, Amazon, SL Green and PWC. Situated just a 5 minute walk from Grand Central Terminal, residents have exceptional access to the 4, 5, 6, 7 and S trains. Grand Central Terminal also offers access to both regional rail lines (Metro North and the LIRR) and proximity to the Queens-Midtown Tunnel.