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3rd Avenue Development Assemblage 7 Properties in New York, NY
Investment Highlights
- Full block-front assemblage with prominent Third Avenue and East 124th Street frontage.
- Approximately 22,270 square feet of contiguous lot area assembled for development.
- Adjacent to the planned 125th Street transit expansion and major transit connections.
- Zoning supports up to 194,162 buildable square feet under the UAP/MIH scenario.
- Located within a federally designated Opportunity Zone.
- Surrounded by major institutional, life science, and mixed-use development activity.
Executive Summary
Commanding Footprint: Expansive blockfront visibility along the highly traveled Third Avenue corridor, paired with highly coveted corner exposure on East 124th Street
Massive Manhattan Scale: Major, institutional-sized project delivering 194,162 buildable square feet of mixed-use potential
High-Density Zoning Advantage: Premium C4-6 / EHC zoning allows for an exceptional commercial and residential equivalent of up to a 10.00 FAR
Expansive Lot Area: Offers a rare, substantial footprint of approximately 22,270 square feet of contiguous lot area, providing developers with the critical mass and layout flexibility needed for an efficient building footprint and optimal construction staging
Qualified Opportunity Zone Benefits: Situated entirely within a federal Opportunity Zone, unlocking massive structural tax shelters, capital gains deferrals, and tax-free appreciation benefits
Unbeatable Transit-Oriented Location: Adjacent to the MTA 125th Street expansion station connecting the existing 125th station on Lexington with the future 2nd Avenue Subway
Robust Retail & Institutional Demand: Strategically located near major economic engines like the New York Proton Center biotech hub and Columbia's Manhattanville expansion
Over 1.5M sqft of mixed-use development slated for the immediate vicinity.
Massive Manhattan Scale: Major, institutional-sized project delivering 194,162 buildable square feet of mixed-use potential
High-Density Zoning Advantage: Premium C4-6 / EHC zoning allows for an exceptional commercial and residential equivalent of up to a 10.00 FAR
Expansive Lot Area: Offers a rare, substantial footprint of approximately 22,270 square feet of contiguous lot area, providing developers with the critical mass and layout flexibility needed for an efficient building footprint and optimal construction staging
Qualified Opportunity Zone Benefits: Situated entirely within a federal Opportunity Zone, unlocking massive structural tax shelters, capital gains deferrals, and tax-free appreciation benefits
Unbeatable Transit-Oriented Location: Adjacent to the MTA 125th Street expansion station connecting the existing 125th station on Lexington with the future 2nd Avenue Subway
Robust Retail & Institutional Demand: Strategically located near major economic engines like the New York Proton Center biotech hub and Columbia's Manhattanville expansion
Over 1.5M sqft of mixed-use development slated for the immediate vicinity.
Property Facts
| Sale Condition | Redevelopment Project | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 53,132 SF |
| Status | Active | Total Land Area | 0.50 AC |
| Number of Properties | 7 |
| Sale Condition | Redevelopment Project |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 7 |
| Individually For Sale | 0 |
| Total Building Size | 53,132 SF |
| Total Land Area | 0.50 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 177 E 123rd St, New York, NY 10035 | Office | 20,776 SF | 1925 | - |
| 2276 Third Ave, New York, NY 10035 | Office | 9,412 SF | 1920 | - |
| 2262-2264 3rd Ave, New York, NY 10035 | Office | 4,224 SF | 1920 | - |
| 2266 3rd Ave, New York, NY 10035 | Office | 3,180 SF | 1900 | - |
| 2268-2270 Third Ave, New York, NY 10035 | Retail | 10,500 SF | 1900 | - |
| 2274 3rd Ave, New York, NY 10035 | Retail | 3,840 SF | 1900 | - |
| 2272 3rd Ave, New York, NY 10035 | Retail | 1,200 SF | 1900 | - |
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(212) 544-9500
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Contacts
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Victor Sozio -
Shimon Shkury -
Michael Tortorici -
Alexander Taic -
Morgan Rosberg -
Ariel Property Advisors
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