Listed by Ariel Property Advisors
$7,000,000
224-228 East 118th Street
Details
Property Type Retail, Land
Sub Type Commercial
Square Footage 45,285
Buildings 2
Stories 3
Lot Size (SqFt) 7,980
Zoning R7A
Retail | 45,285 SqFt
Marketing description
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.
Investment highlights
- Unique Scale: 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
- Layout Optionality: Ownership secured a light and air easement from Lot 37, providing significant flexibility for future building & unit layouts
- Strong Residential Location: Centrally located among several recently constructed rental and condominium properties, the property is an ideal candidate for either residential types.
- Retail Convenience: Major local and national retailers are steps away at East 116th Street, Second & Third Avenues and the nearby East River Plaza.
- Transit Accessibility: Easy access to mass transit is provided by the Lexington Avenue 6 train at East 116th Street, the 4/5 train at East 125th Street and the planned Second Avenue Q train which is slated to have an entrance at East 116th Street
- $154 / $/BSF (Standard)
- $129 / $/BSF (UAP)
Listing Contacts
Listed by Ariel Property Advisors
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$--
$--
Valuation Metrics
0
DSCR
--
Cap Rate
--
ROI
Map
Broker Selected Comps View More Comps
Property History
Similar Properties
Is there information that looks off?
