175 E 117th St 10 Unit Apartment Building $1,699,000 ($169,900/Unit) 8.38% Cap Rate New York, NY 10035

175 E 117th Street, New York, NY 10035 — East Harlem Development & Investment Opportunity
Rare opportunity to acquire a substantial multi-level property in East Harlem with approximately 4,203 square feet of total interior space, including four above-grade floors and a full basement. The property combines an existing residential configuration with significant future development potential, making it well suited for investors, developers, and owner-users seeking to capitalize on a Manhattan location.
The existing building encompasses approximately 3,870 square feet and is situated within R7A zoning, providing favorable development parameters. With an FAR of 4.0, the property has approximately 7,668 square feet of buildable area, presenting the potential to expand or redevelop the site, subject to applicable zoning requirements and approvals. The existing floor plan is configured with multiple bedrooms, living areas, kitchens, dining areas, bathrooms, office/flexible-use space, and a full basement, offering a variety of possibilities for continued residential use or future repositioning.
Located in East Harlem, the property benefits from a vibrant and continually evolving neighborhood surrounded by residential, retail, dining, cultural, and recreational amenities. Thomas Jefferson Park, the Harlem River Greenway, the Museum of the City of New York, local restaurants, supermarkets, cafes, and neighborhood shops are all within close proximity. Public transportation is readily accessible, including the 6 train at 116th Street and the 2 and 3 trains at 116th Street, along with multiple MTA bus routes, providing convenient access throughout Manhattan and beyond.
With its size, R7A zoning, approximately 7,668 square feet of buildable potential, and East Harlem location, 175 E 117th Street represents a compelling opportunity for investors and developers looking to acquire a property with both existing utility and future upside.
Property Highlights:
*Approximately 4,203 SF total interior space
*Approximately 3,870 SF existing building
*R7A zoning
*FAR: 4.0
*Approximately 7,668 SF buildable
*Four above-grade floors plus full basement
*Multiple residential living areas and bedrooms
*Multiple kitchens and bathrooms
*Strong East Harlem location
*Convenient access to subway and bus transportation
*Development and repositioning potential
All square footage, zoning, FAR, buildable area, and development potential should be independently verified by prospective purchasers and their representatives. Buyer and buyer's agents should conduct their own due diligence regarding zoning, permitted uses, lot size, building square footage, FAR, development rights, certificates of occupancy, permits, and all other property information.