55 West 38th Street

55 W 38th St
Midtown South

$6,800,000
Price
Alcove
Beds
—
Baths
6,000 Sq. Ft.
$1,133 / Sq. Ft.
6,000
Sq. Ft.
$1,133
per Sq. Ft.
Listed By Compass
Listed By Compass
a view of a building with a window
a view of a car park in front of building
a front view of a building with a glass door
a building with multiple windows

Description

Unlock exceptional development potential in the heart of Midtown Manhattan. Just steps from Bryant Park, Herald Square, and major transit hubs, 55 W 38th Street offers a rare combination of location, zoning flexibility, and substantial unused buildable area—perfect for developers, investors, and visionaries seeking high-value upside.
Property Highlights
• Lot Size: 20 ft × 98.75 ft (approx. 1,975 sq ft)
• Zoning: M1-9A / R12 — highly versatile designation supporting significant residential development...Unlock exceptional development potential in the heart of Midtown Manhattan. Just steps from Bryant Park, Herald Square, and major transit hubs, 55 W 38th Street offers a rare combination of location, zoning flexibility, and substantial unused buildable area—perfect for developers, investors, and visionaries seeking high-value upside.

Property Highlights
• Lot Size: 20 ft × 98.75 ft (approx. 1,975 sq ft)
• Zoning: M1-9A / R12 — highly versatile designation supporting significant residential development
• Residential FAR: 12.0
• Existing Structure: Approx. 6,000 sq ft

⸻

Buildable Potential

With a total allowable floor area of 23,700 sq ft, the property delivers a compelling opportunity for new construction or strategic expansion.
• Total Allowable Floor Area: 1,975 sq ft × 12 FAR = 23,700 sq ft
• Existing Floor Area: 6,000 sq ft
• Remaining Buildable Area: 17,700 sq ft

⸻

Investment Summary

This property offers approximately 17,700 sq ft of unused residential buildable area, presenting a rare chance to create value in one of Manhattan’s most dynamic corridors. Ideal for:
• Ground-up residential development
• Vertical expansion of the existing building
• Value-add repositioning for rental, condo, or mixed-use applications

Whether you’re aiming to deliver luxury residences, boutique hospitality, or a mixed-use asset, 55 W 38th Street provides the zoning, scale, and location to realize a standout project.

⸻

Inquire Today

Capitalize on this exceptional Midtown development site.
For pricing, financials, and tours, please contact us.

Amenities

  • Lowrise
LISTING UPDATED: 11/20/2025 04:20 PM

Property Details for 55 West 38th Street

StatusActive
Days on Market14
Taxes$4,780 / month
Maintenance$2,220 / month
Min. Down Pymt-
Total Rooms8.0
Compass TypeMixed Use
MLS Type-
Year Built1915
Lot Size6,000 SF / 17' x 99'
CountyNew York County

Building

55 W 38th St

4 Units4 StoriesBuilt in 1915

Location

Listing Courtesy of: .

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Building Information for 55 West 38th Street

Stories4Residences4Year Built1915Lot Size6,000 SF / 17' x 99'Building Age-Building Type-

Payment Calculator

$40,601 per month

30 year fixed, 6.28% Interest

Principal and Interest

$33,601

Property Taxes

$4,780

Maintenance/Common Charges

$2,220

The Payment Calculator is for illustrative purposes only.

Property History for 55 West 38th Street

DateEvent & SourcePriceAppreciation
Nov 20, 2025

Listed (Active)

Manual

$6,800,000—
DateEvent & SourcePrice
11/20/2025

Listed (Active)

Manual

$6,800,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Schools near 55 West 38th Street

This home is within New York City Geographic District # 2.
Rating
School
Type
Grades
Distance
P.S. 51 Elias Howe
Public - PK to 5
Middle 297
Public - 6 to 8
Lower Manhattan Community Middle School
Public - 6 to 8
Nyc Lab Ms For Collaborative Studies
Public - 6 to 8
Rating
School
Distance
P.S. 51 Elias Howe
PublicPK to 5

Middle 297
Public6 to 8

Lower Manhattan Community Middle School
Public6 to 8

Nyc Lab Ms For Collaborative Studies
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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More information about 55 West 38th Street, Midtown South

55 West 38th Street is a mixed use property for sale in Midtown South. This property was listed for sale on November 20, 2025 by Compass, it's currently listed at $6,800,000. This listing's school district is New York City Geographic District # 2. Nearby schools include P.S. 51 Elias Howe, Middle 297 and Lower Manhattan Community Middle School. 55 West 38th Street is a 0.5-bed, 0-bath, 6,000 sqft mixed use property built in 1915.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved. The source of the displayed data is either the property owner or public record provided by non-governmental third parties. It is believed to be reliable but not guaranteed. This information is provided exclusively for consumers’ personal, non-commercial use. The data relating to real estate for sale on this website comes in part from the IDX Program of OneKey® MLS. Information Copyright 2025, OneKey® MLS. All data is deemed reliable but is not guaranteed accurate by Compass. See Terms of Service for additional restrictions. Compass · Tel: 212-913-9058 · New York, NY Listing information for certain New York City properties provided courtesy of the Real Estate Board of New York’s Residential Listing Service (the "RLS"). The information contained in this listing has not been verified by the RLS and should be verified by the consumer. The listing information provided here is for the consumer’s personal, non-commercial use. Retransmission, redistribution or copying of this listing information is strictly prohibited except in connection with a consumer's consideration of the purchase and/or sale of an individual property. This listing information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., all rights reserved. This information is not guaranteed, should be independently verified and may not reflect all real estate activity in the market. Offers of compensation set forth here are for other RLSParticipants only and may not reflect other agreements between a consumer and their broker.©2025 The Real Estate Board of New York, Inc., All rights reserved.