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224-228 East 118th St 2 Properties Offered at $7,950,000 in New York, NY
Investment Highlights
- Along with air rights transferred from Lot 37, R7A zoning provides 45,313 SF with Standard FAR and up to 54,376 BSF with the UAP FAR.
- Centrally located among several recently constructed rental and condominium properties, its an ideal candidate for either residential types.
- Easy access to mass transit is provided by the Lexington Avenue 6 train at East 116th Street, and the 4/5 train at East 125th Street.
- Ownership secured a light and air easement from Lot 37, providing significant flexibility for future building & unit layouts.
- Major local and national retailers are steps away at East 116th Street, Second & Third Avenues and the nearby East River Plaza.
Executive Summary
Ariel Property Advisors presents 224-228 East 118th Street, a prime East Harlem development site that includes additional air rights and light & air easement from an adjacent neighbor. The 79’ wide, ~7,980 square foot parcel currently consists of a vacant lot and vacant townhouse. Offering exceptional scale, rare layout optionality via a neighboring easement and prime location, 224-228 East 118th Street represents a premier Northern Manhattan development opportunity.
Property Facts
| Price | $7,950,000 | Number of Properties | 2 |
| Price / SF | $152.66 / SF | Individually For Sale | 0 |
| Sale Condition | Redevelopment Project | Total Building Size | 52,076 SF |
| Sale Type | Investment | Total Land Area | 0.43 AC |
| Status | Active |
| Price | $7,950,000 |
| Price / SF | $152.66 / SF |
| Sale Condition | Redevelopment Project |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 52,076 SF |
| Total Land Area | 0.43 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 228 E 118th St, New York, NY 10035 | Land | 0.13 AC | 1900 | - |
| 224 E 118th St, New York, NY 10035 | Multifamily | 52,076 SF | 1980 | - |
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(212) 544-9500
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Contacts
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Alexander Taic -
Michael Tortorici -
Howard Raber, Esq. -
Ariel Property Advisors
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224-228 East 118th St
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