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$12,000,000 / 13624ft2 - Vacant Land*(Lot) Development*For Residential Build Out*E115th* (Harlem / Morningside)
East 115th St near 5th & Madison Ave
13624ft2
available sep 1
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Block / Lot#: 1621-0007
Lot Dimensions: 135 x 100.92 feet
Lot Size: 13,624 Sq. Ft. (Approx.)
Zoning: R7-2
FAR: 4.00 or 4.6 w/ inclusionary housing (6.5 w/ Community Facility Bonus)
Buildable SF: 54,497 square feet (Approx as-of-right)
Buildable SF w/ CF Bonus: 88,557 square feet (Approx w/ CF Bonus)
ASKING PRICE: $11,500,000.00
This property is a 135 foot wide development site
located on the north side of East 115th Street between
5th Avenue and Madison Avenue in East Harlem.
Zoned R7-2 (4.00 FAR or 4.6 FAR with inclusionary housing,
– Wide Street), the property permits
approximately 88,556 buildable square feet (w/ CF bonus)
or 54,497 buildable square feet (as-of-right) for a large scale
residential development. Please note the subject property is
encumbered by an easement that requires capacity for nineteen
(19) parking spaces at 1760 Madison Avenue –
Located in the rapidly expanding neighborhood of
East Harlem, an area slated for considerable growth
given the City’s proposed rezoning initiatives.
The site is surrounded by bustling retail and various
new residential developments, several of which are
consistently achieving condo sellouts north of $1,000 per square foot.
Local neighborhood attractions include Marcus Garvey Park,
Central Park, the Harlem Meer, Columbia University, the Silberman
School of Social Work at Hunter College, and the East Village Plaza.
The property also enjoys easy access to lower Manhattan and outer
borough locations via the 2/3 subway train just a block away on Malcolm X Blvd.
With its vastly convenient location, local draws and institutions, along with the combination of a robust residential marketplace, 7 East 115th Street represents an outstanding development opportunity poised to take advantage of neighborhood upside potential.