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1620 Madison Ave - Development Site 0.05 Acres of Residential Land Offered at $1,500,000 in New York, NY 10029
Investment Highlights
- 2,188 SF midblock lot (25' x 87.5'); 8,750 BSF as-of-right (4.0 FAR); 10,959 UAP BSF (5.01 FAR)
- Attractive basis: $171 / BSF as-of-right; $137 / UAP BSF
- Location: Steps to Central Park, the Conservatory Garden and Museum Mile
- Delivered vacant: build-ready development site on Madison Avenue, all utilities available at the street
- 98 Walk Score & perfect 100 Transit Score
- R7-2 / C1-5 zoning permits residential over ground-floor retail (mixed-use)
Executive Summary
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2025) Click Here to Access |
Annual | Annual Per AC |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per AC | $9.99 |
Property Facts
1 Lot Available
Lot 1016140015
| Price | $1,500,000 | Lot Size | 0.05 AC |
| Price Per AC | $29,880,478.09 |
| Price | $1,500,000 |
| Price Per AC | $29,880,478.09 |
| Lot Size | 0.05 AC |
Rare opportunity to acquire a vacant R7-2/C1-5 development site in East Harlem. The 25' x 87.5' (2,188 SF) midblock lot offers 8,750 BSF as-of-right, or 10,959 BSF utilizing the Universal Affordability Preference (UAP).
Description
1620 Madison Avenue is a rare, delivered-vacant development site in the heart of East Harlem - a blank canvas for developers seeking new residential or mixed-use construction in one of Manhattan's most supply-constrained submarkets. The 2,188 SF lot (25' x 87.5') is zoned R7-2 / C1-5, allowing 8,750 BSF as-of-right and up to 10,959 BSF by incorporating permanently affordable housing under the Universal Affordability Preference. The C1-5 overlay permits ground-floor retail beneath residential units. At $1,500,000 - just $171/BSF, or $137/BSF at full density - the basis is compelling for new Manhattan development. The location is unmatched: steps from Central Park and Museum Mile, with the 6 train at 110th Street, the 2/3 at Central Park North, and express 4/5 and Metro-North service a short walk away. The M1-M4 buses run along Madison Avenue, with M106 crosstown service nearby, and the proposed Second Avenue Subway (Q) extension at 106th Street is within walking distance. A 98 Walk Score and perfect 100 Transit Score underscore the appeal.
Property Taxes
| Parcel Number | 1614-0015 | Total Assessment | $343,620 (2026) |
| Land Assessment | $343,620 (2026) | Annual Taxes | ($1) |
| Improvements Assessment | $0 (2026) | Tax Year | 2025 |
Property Taxes
Contact the Sale Advisor
1620 Madison Ave - Development Site