Prime East Harlem Multifamily Development Opportunity | 50,920 MIH Buildable SF

Highlights:

• Prime conversion opportunity within the East Harlem Rezoning Corridor
• Currently sits on a 5,092 SF lot positioned as a large big box department store with the ability to be delivered vacant by an owner-user occupant
• With 50' of frontage and 50,920 Buildable Square Feet on the lot, this property fits perfectly into the 485X development parameters
• Existing building stands 3 stories high with 14,500 Sq. Ft. and over 36,400 SF in air rights
• Exceptional zoning benefits from favorable C4-6/EHC (MIH) designations, enabling a strong Floor Area Ratio (FAR) potential of up to 10.00 to optimize long term design layouts
• Excellent commuter convenience with immediate access to major Manhattan transportation networks, including the 4, 5, and 6 subway lines at the nearby 125th Street/Lexington Ave station and the Metro-North Railroad station at 125th Street, alongside multiple local M101, M102, and M103 bus routes running directly along Third and Lexington Avenues.
• Situated in a rapidly evolving corridor of East Harlem, the site is surrounded by a rich mix of local retail hubs, diverse dining options, and public community parks, placing future development directly in the path of ongoing residential demand
• Located within a designated Opportunity Zone, offering potential tax advantages for qualified capital gains investments.

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