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228-246 E 122nd St 0.49 Acres of Residential Land in New York, NY 10035
INVESTMENT HIGHLIGHTS
- 228-246 East 122nd presents a premier East Harlem development site offering a 21,192-square-foot land assemblage in an Opportunity Zone corridor.
- Positioned three blocks from the 125th Street transit hub, providing swift access to the 4/5/6 trains, Metro-North, and the Second Avenue Subway.
- Near major developments, including One East Harlem, 1800 Park Avenue, The Smile, and The LABS on 121, reinforcing strong neighborhood momentum.
- Delivered vacant for immediate construction of up to 156 units across a 10-story building, suited for a mixed-use or residential development.
- Surrounded by cultural and retail anchors like El Museo del Barrio, Apollo Theater, East River Plaza, Rao’s, and Patsy’s Pizzeria.
- Set within a high-demand rental market with 83% renter households and 600,000 residents nearby, offering powerful long-term growth potential.
EXECUTIVE SUMMARY
This Opportunity Zone-designated site offers significant tax advantages for qualified investments, making it an ideal location for residential or mixed-use development. The property will be delivered vacant, allowing for the immediate construction of up to 156 residential units across a 10-story, contextually designed building. Positioned in East Harlem’s booming Second Avenue Subway Phase 2 corridor, the site offers a rare combination of scale, visibility, and flexibility for developers seeking a transformative urban project.
The assemblage sits in a highly connected and amenity-rich location. Just three blocks from the 125th Street-Lexington Avenue transit hub (4/5/6 lines, Metro-North, and future Q line), the property provides unparalleled transit access. Major thoroughfares and local bus lines, including M60-SBS, M101, M103, and M125. The site is surrounded by cultural, retail, and dining destinations, including El Museo del Barrio, Apollo Theater, Rao’s, Patsy’s Pizzeria, and the East River Plaza shopping center. Nearby developments such as 1800 Park Avenue, One East Harlem, The Smile, and The LABS on 121 underscore the corridor’s emergence as Manhattan’s next frontier for growth and investment.
East Harlem has become a magnet for new jobs, development, and renter demand. Over 83% of households are renter-occupied, with more than 600,000 residents within a 2-mile radius, creating a strong, reliable market for residential development. The area benefits from access to parks like Marcus Garvey Park, Thomas Jefferson Park, and Central Park, as well as educational institutions such as Hunter School of Social Work. With ongoing large-scale projects and institutional growth, this site offers a rare opportunity to capitalize on Manhattan’s expanding urban core. 228-246 East 122nd Street represents a transformative development opportunity where scale, connectivity, and market demand converge to create long-term value.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER AC |
|---|---|---|
| Taxes |
$209,456
|
$427,461.22
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$209,456
|
$427,461.22
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Taxes | |
|---|---|
| Annual | $209,456 |
| Annual Per AC | $427,461.22 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per AC | - |
| Total Expenses | |
|---|---|
| Annual | $209,456 |
| Annual Per AC | $427,461.22 |
PROPERTY FACTS
1 LOT AVAILABLE
Lot
| Lot Size | 0.49 AC |
| Lot Size | 0.49 AC |
DESCRIPTION
Strategic Realty Partners has been exclusively retained to offer for sale a premier development opportunity Located at 228-246 East 122nd Street in the heart of Second Avenue Subway Phase 2 transformation corridor. This exceptional 21,192 SF land assemblage presents 210 feet of frontage along East 122nd Street, offering 106,173 buildable square feet as-of-right under R7A zoning. The site benefits from Opportunity Zone designation, providing significant tax advantages for qualified investments. Located just three blocks from the 125th Street-Lexington Avenue transit hub (4/5/6 lines, Metro North and future Q train), the property sits at the nexus of East Harlem’s unprecedented development boom. Major projects including One East Harlem, Memorial Sloan Kettering’s Proton Center, Clipper Equity’s 1800 Park Ave have established this corridor as Manhattan’s next frontier for growth. The current improvement will be delivered vacant, allowing immediate development of up to 156 residential units across a 10-story contextual building. We invite qualified developers to explore this compelling opportunity to create value in one of New York’s most dynamic emerging markets.
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $2,069,730 | |
| Land Assessment | $1,686,150 | Annual Taxes | $209,456 |
| Improvements Assessment | $383,580 | Tax Year | 2025 |
PROPERTY TAXES
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228-246 E 122nd St
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