345 Lexington Avenue, New York City, NY 10016
Listing Courtesy of Sothebys International Realty
$8,000,000
Potential Rebate: $120,000
Overview
345 Lexington Avenue is a 3 family building with store. The lot measures 20.42ft by 99.75ft and lot square footage pf 2000 square feet (approx.) The residential FAR is 10 and the commercial and facility FAR is 15. The property is not landmarked. The property is divided as follows:
Commercial: Retail space basement with storage area.
First floor: Retail space with office area and sink, 1/2 bath and access to storage area in rear.
Second floor: Office space, 3 rooms, full bath, washing machine and dryer, cooking facilities and bar, terrace and garden access.
Residential:
Third floor: 3 rooms, full bath, full kitchen, walk through closet Fourth floor: 3 rooms, full bath, full kitchen with dishwasher, walk through closet.
If bought with 347 Lexington Avenue both properties provide an exceptional opportunity in midtown Manhattan, two blocks south of Grand Central in Murray Hill to build 54,120 square feet of commercial or 40,000 square feet of residential space. Additional air rights of 27,000 square fee are available from an adjacent property.
The zoning for 345 Lexington and 347 Lexington Avenue is exceptionally favorable C5-3, MiD.
The new building will have a 40 foot frontage in a prime Lexington Avenue location, between East 39th and East 40th streets.
345 Lexington Avenue is a 3 family building with store. The lot measures 20.42ft by 99.75ft and lot square footage pf 2000 square feet (approx.) The residential FAR is 10 and the commercial and facility FAR is 15. The property is not landmarked. The property is divided as follows:
Commercial: Retail space basement with storage area.
First floor: Retail space with office area and sink, 1/2 bath and access to storage area in rear.
Second floor: Office space, 3 rooms, full bath, washing machine and dryer, cooking facilities and bar, terrace and garden access.
Residential:
Third floor: 3 rooms, full bath, full kitchen, walk through closet Fourth floor: 3 rooms, full bath, full kitchen with dishwasher, walk through closet.
If bought with 347 Lexington Avenue both properties provide an exceptional opportunity in midtown Manhattan, two blocks south of Grand Central in Murray Hill to build 54,120 square feet of commercial or 40,000 square feet of residential space. Additional air rights of 27,000 square fee are available from an adjacent property.
The zoning for 345 Lexington and 347 Lexington Avenue is exceptionally favorable C5-3, MiD.
The new building will have a 40 foot frontage in a prime Lexington Avenue location, between East 39th and East 40th streets.
Less
Home Features
- •In Unit
- •Building Garden
- •Garden
- •Private Outdoor Space Over 60 Sqft
Estimated Monthly Payment
$47,471 per month
30 year fixed, 6.28% Interest
Estimated Rebate for this Home
One-time rebate at closing
$120,000
Monthly savings impact
$333/mo
💡 Estimated at 1.5% of purchase price
The rebate is paid to you at closing and can help offset closing costs or other expenses.
Calculator Disclaimer: This calculator provides estimates for informational purposes only. Actual monthly payments, interest rates, taxes, and rebate amounts may vary. The rebate calculation is an estimate and subject to final terms. This information is not provided by the Real Estate Board of New York (REBNY).
Similar Homes
347 Lexington Avenue, New York City, NY 10016
Listing Courtesy of Sothebys International Realty
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RLS IDX Data display by Real Estate Rebate Team. 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. IDX information is provided exclusively for consumers’ personal, non-commercial use and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer and for no listing shall the number of bedrooms listed be considered a legal conclusion.
The Real Estate Rebate Team
Listing Courtesy of Sothebys International Realty
Data Source: TRESTLE #RLS10974377
Price Analysis
Compare average listing prices and value metrics for 345 Lexington Avenue against the surrounding Murray Hill market.
Average List Price
Price Per SqFt
68.78% Lower
than the Murray Hill price-per-sq-ft average
Units in this building are listed below the neighborhood average, potentially offering better value per square foot compared to surrounding properties.
Murray Hill
Overview of Murray Hill
Murray Hill is a charming, somewhat relaxed enclave on the East Side of Manhattan, spanning roughly from 34th to 40th Streets. Known for its recent college graduate population, it also boasts historic districts with stunning townhouses. For those seeking Murray Hill Manhattan real estate, the neighborhood usually offers more space for your money than its neighbors.
Living in Murray Hill, Manhattan offers a residential vibe that feels distinct from the corporate towers of Midtown to the north. It is a mix of high-rise apartment complexes and tree-lined blocks of brownstones. As a popular Manhattan NYC neighborhood, it strikes a balance between a lively bar scene on Third Avenue and quiet, upscale living on Park Avenue.
Real Estate & Housing Market
The market for homes for sale in Murray Hill is viewed as a value pocket in Manhattan. You can find everything from affordable post-war co-op studios to multi-million dollar historic townhouses in the Murray Hill Historic District. It attracts a wide demographic, from young finance professionals renting their first apartments to established families owning entire brownstones.
The "Corinthian" and other condo towers offer full-service luxury living. The area is steady and reliable for investment, with strong rental demand from the nearby medical mile (NYU Langone) and UN workers. Prices here are generally more accessible than in Flatiron or Gramercy.
Lifestyle & Community
The lifestyle in Murray Hill is social and active. The neighborhood is famous for its nightlife along Third Avenue, which is bustling with sports bars and restaurants. However, west of Lexington Avenue, the vibe transforms into one of quiet elegance, with carriage houses and diplomatic residences.
Community amenities are strong, with the St. Vartan Park providing a local playground and sports courts. The proximity to Grand Central makes it a convenient choice for commuters, while the varied housing stock allows residents to "move up" within the neighborhood as they progress in their careers.
Transportation & Accessibility
Murray Hill is well-served by transportation. The 4, 5, 6, 7, and S trains at Grand Central are a short walk away, as is the 33rd St station for the 6 train. The neighborhood is also a hub for the select bus service, making crosstown travel easier.
Access to the Midtown Tunnel allows for quick escapes to Long Island and the airports. For daily commuting to Wall Street or Upper East Side, the Lexington Avenue line (4/5/6) is the lifeline of the neighborhood.
Parks, Schools & Amenities
While green space is at a premium, St. Vartan Park is a beloved community hub. The East River Ferry at 34th Street is a game-changer, connecting residents to Brooklyn, Queens, and Wall Street via a scenic boat ride.
The area is home to the Morgan Library & Museum, a cultural treasure. Amenities like Trader Joe’s, Fairway, and a plethora of gyms and dry cleaners cater to the busy professionals who live here.
Who This Neighborhood Is Best For
Murray Hill is best for recent graduates and young professionals seeking a fun social scene ("Murray Hill" is often nicknamed "Curry Hill" for its Indian restaurants or associated with post-grad life). However, the historic district is ideal for those seeking townhouse living at a relative discount.
