Midtown East site marketed as future home of 33-story tower

Dupler wants to lease the land beneath 222-226 East 46th Street

TRD New York /
Aug.August 11, 2015 02:45 PM

The Dupler Group is looking to lease the land on a Midtown East development site that could hold a 33-story tower, The Real Deal has learned.

The 99-year lease for the land at 222-226 East 46th Street, between Second and Third avenues, values the property at about $30 million. The site, which offers 72,000 buildable square feet, now holds a five-story office building.

But a Newmark Grubb Knight Frank team led by Justin DiMare is marketing the site as a ground-up development of a residential rental tower with as many as 96 apartments. The brokerage commissioned a study and renderings by architecture firm GreenbergFarrow.

“This is an opportunity for a new-construction rental building, in an area where that is very rare,” DiMare told TRD.

The Dupler family, a group of private investors led by Michael Dupler, has owned the property for decades.

Office tenants include online music database Classical.com and communications firm First Press Public Relations.

In the spring, the Prodigy Network and Korman Communities launched sales at a condominium project at 234 East 46th Street, where prices started at $1.2 million.


Related Articles

arrow_forward_ios
Brett Siegel, Jean Celestin, and Evan Layne with Newmark Knight Frank offices at 125 Park Avenue (Credit: LinkedIn and Google Maps)

Newmark poaches Eastdil Secured sales team

Robert K. Futterman (Credit: Southampton Town Police)

Futterman’s latest DUI wouldn’t factor into termination case: legal expert

Jimmy Buffett and a rendering of Margaritaville Times Square (Credit: Getty Images, Margaritavilla/The McBride Company)

Sued away again in Margaritaville: Newmark claims chain breached exclusive contract

Newmark’s Tom Citron heads to Colliers

50 United Nations Plaza

Uncle Sam buys $16M penthouse at 50 UN Plaza — one flight down from the UK’s pad

Robert Futterman (Credit: RKF)

Robert Futterman fired from RKF

Valuation inflation: Why sky-high figures could come back to bite investors

Hotel specialist Michele Mahl leaves Newmark for JLL

arrow_forward_ios