554 Fort Washington Ave 0.44 Acres of Residential Land in New York, NY 10033

CBRE has been exclusively retained to facilitate the sale of 554 Fort Washington Avenue (the “Property”), a ~160,000-square-foot development site in the Hudson Heights residential neighborhood of Northern Manhattan. The offering presents developers the unique opportunity to construct up to= ~96,700 residential square feet supported by a community facility component. The site is located on a block through 100’ x 180’ lot, spanning from Fort Washington Avenue to Overlook Terrace between 183rd and 187th Streets. The Property benefits from being located atop one of the highest points in Manhattan. Primed for development, 554 Fort Washington Avenue has a residential Floor Area Ratio (FAR) of up to 5.01 under the City of Yes framework. Due to the slope of the property, the community facility space built below grade will have access to natural light and air. When constructed, the Property will offer residents breathtaking 360° unobstructed views from nearly ground level – unachievable elsewhere. The convenience of being just 350 feet from the express subway entrance ensures easy commutes to midtown and outer boroughs. With excellent access to transportation along with abundant parks and greenery, the site is ideal for young professionals and families alike. The Property is currently occupied by Birch Family Services, a highly reputable nonprofit organization. The organization signed a 10-year triple-net (NNN) lease in 2020, currently paying $46 PSF (excluding tax contributions), with a rent escalation to $55 PSF scheduled for November 2025. Birch Family Services has expressed interest in leasing the community facility component of any future development, should it be built to suit.
The site offers convenient access to the West Side Highway and the George Washington Bridge, enhancing connectivity to the greater New York area. The neighborhood features tree-lined streets, bustling retail along 181st and 187th Streets, and a diverse array of dining options, making it a vibrant community favored by families and young professionals. Its proximity to notable landmarks, including Yeshiva University, New York-Presbyterian Hospital, and the scenic Fort Tryon Park—home to the renowned Cloisters Museum overlooking the Hudson River—further enhances its appeal. In summary, 554 Fort Washington Avenue represents the premier opportunity to create significant
residential and community facility development in one of the most supply-constrained markets.