Lee & Associates NYC is pleased to present exclusively for sale the development site located at 347 East 72nd Street, New York, NY 10021 (the “Property” or the “Site”). Currently owner-occupied by The Theosophy Company, the property currently contains approximately 7,400 square feet of community facility space, to be delivered vacant. Situated on a lot of approximately 2,861 square feet with an as-of-right residential FAR of 10.0 the Site has potential to house ~28,610 square feet of residential space. The envelope of the Site can be expanded through Inclusionary Certificates or UAP, creating the potential to build up to approximately 34,332 square feet of residential space. The Property represents the opportunity to acquire a vacant asset allowing a developer speed to market with no lasting encumbrances on the land.