Ezratty and Ellard of Eastern Consolidated chosen to market 30 East 29th Street

New York, NY Eastern Consolidated is requesting offers for an extraordinary development assemblage at 30 East 29^th St., in the midst of the coveted NoMad, Gramercy Park, and Flatiron subdistricts. The property will be delivered vacant. Exclusive agent Brian Ezratty, vice chairman and principal, is marketing the property. Scott Ellard, vice president and principal, financial services, is the analyst for the deal. “The site at 30 East 29th St. presents the opportunity to construct a new tower with up to 135,000 square feet of zoning floor area midway between Madison Ave. and Park Ave. South, at the center of Midtown South’s most desirable neighborhoods,” Ezratty said. “Ownership has strategically assembled significant development rights from surrounding properties and has agreements with neighboring owners to allow for the development of a new ground-up structure on the site Ezratty said that flexible zoning will allow for commercial and office uses as well as residential uses in an area where condominium sales exceed $2,500 per s/f and are reaching north of $4,000 per s/f. The neighborhood’s combination of new and traditional architecture, representing the diversity of users that are actively seeking space within them, place continued upward pressure on local real estate values and put 30 East 29th St. in position to take full advantage of the wealthy residential demand in this trendy area. No fewer than 10 new luxury residential towers and four luxury branded hotels now complement the historically and architecturally significant buildings in this neighborhood that are regularly sought after by both residential and commercial tenants. The east side, particularly between Third and Fifth Avenues from 23rd St. to 34^th St., has seen the development of both translucent modern condominium residences and the redevelopment of pre-existing distinctive properties into the loft-style living that New Yorkers seek. Prime examples include Sky Couture at 400 Park Ave. South, The Huys at 404 PAS, the former Toy Center at 10 Madison Square West, The Whitman at 21 East 26th St., and 241 & 242 Fifth Ave., among many others. NoMad has witnessed an influx of affluent professionals, families and international travelers living, working, and playing in the hottest office subdistrict in the country - Midtown South. They seek the open public spaces, cultural institutions, restaurants and shopping and all of the amenities available to residents in the neighborhood. The property is well-located, with immediate access to all modes of public transportation and points of entry into and out of Manhattan on the East Side.