347 Lexington Avenue is being offered with 345 Lexington Avenue as an assemblage for a developer to build 54,210 square feet of commercial or 40,000 square feet of residential space. The zoning for both buildings is C5-3, MiD. The residential FAR is 10 and the commercial and facility FAR is 15. The new development will have a 40 foot frontage in a prime Lexington Avenue location, between East 39th and 40th Streets. An additional 27,000 square feet of air rights are available from an adjacent building. 347 Lexington Avenue lot measures 18.5 by 87 feet, the lot is 1,610 square feet. The property is not landmarked and will be delivered vacant. 347 Lexington is currently a 2 family building with store and baking facilities on the ground floor, a salon on the second floor, and two residential studio apartments on the third floor.