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2197 3rd Ave - 421A Eligible Development Opportunity 0.21 Acres of Commercial Land Offered at $18,000,000 in New York, NY 10035
Investment Highlights
- 421A-approved and extended ground-up development opportunity which can be delivered with approved plans located in the heart of East Harlem, Manhattan
- 5,842 square foot designated for commercial use and 1,447 square foot for a community facility.
- Ideally situated near the 3 Ave - 138 St [6] Subway Station, offering convenient access to Midtown and other parts of Manhattan.
- The property consists of a 9,300 SF lot with for a total zoning floor area of 105,590 SF as-of-right—98,300 SF designated for residential.
- The plans call for a 141-unit mixed-use building consists of 51 studios, 63 one-bedrooms, 25 two-bedrooms, one commercial space & community facility.
Executive Summary
Asset CRG Advisors has been exclusively retained to market 2197 3rd Ave, New York, NY 10035, a 421a development opportunity in the heart of East Harlem, Manhattan. The property consists of a 9,300 SF lot and can be delivered with approved plans for a 105,590 buildable SF as-of-right mixed-use building. The zoning breakdown includes 98,300 SF for residential use, 5,842 SF for commercial use, and 1,447 SF for a community facility. Approved plans call for 139 residential units, featuring 51 studio apartments, 63 one-bedroom apartments, and 25 two-bedroom apartments. The project also includes a 5,842 SF commercial space and a 1,447 SF community facility. A total of 34 units will be designated as affordable housing. Located near the 3 Ave - 138 St [6] Subway Station, the site provides excellent connectivity to Midtown and other parts of Manhattan. This shovel-ready project presents a prime opportunity for developers.
Property Facts Under Contract
| Price | $18,000,000 | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Apartment Units |
| No. Lots | 1 | Total Lot Size | 0.21 AC |
| Property Type | Land | Opportunity Zone |
Yes
|
| Zoning | C4-6 - a commercial zoning district in New York City that allows for a variety of commercial, community facility, and residential uses | ||
| Price | $18,000,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.21 AC |
| Opportunity Zone |
Yes |
| Zoning | C4-6 - a commercial zoning district in New York City that allows for a variety of commercial, community facility, and residential uses |
1 Lot Available
Lot
| Price | $18,000,000 | Lot Size | 0.21 AC |
| Price Per AC | $84,309,528.38 |
| Price | $18,000,000 |
| Price Per AC | $84,309,528.38 |
| Lot Size | 0.21 AC |
The property consists of a 9,300 SF lot with approved plans for a 105,590 buildable SF as-of-right mixed-use building. The zoning breakdown includes 98,300 SF for residential use, 5,842 SF for commercial use, and 1,447 SF for a community facility
Walk Score®
Walker's Paradise (98)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (83)
Property Taxes
| Parcel Number | 1784-0045 | Improvements Assessment | $0 |
| Land Assessment | $807,750 | Total Assessment | $807,750 |
Property Taxes
Parcel Number
1784-0045
Land Assessment
$807,750
Improvements Assessment
$0
Total Assessment
$807,750
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2197 3rd Ave - 421A Eligible Development Opportunity
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