7 East 115th Street, New York, NY 10029 54,497 Buildable Sq. Ft. Development Site for Sale by Owner

This property is a 135 foot wide development site located on the north side of East 115th Street between 5th Avenue and Madison Avenue in East Harlem. Zoned R7-2 (4.00 FAR or 4.6 FAR with inclusionary housing, – Wide Street), the property permits approximately 88,556 buildable square feet (w/ CF bonus) or 54,497 buildable square feet (as-of-right) for a large scale residential development. Please note the subject property is encumbered by an easement that requires capacity for nineteen (19) parking spaces at 1760 Madison Avenue – please inquire for more info.

The property is located in the rapidly expanding neighborhood of East Harlem, an area slated for considerable growth given the City’s proposed rezoning initiatives. The site is surrounded by bustling retail and various new residential developments, several of which are consistently achieving condo sellouts north of $1,000 per square foot. Local neighborhood attractions include Marcus Garvey Park, Central Park, the Harlem Meer, Columbia University, the Silberman School of Social Work at Hunter College, and the East Village Plaza. The property also enjoys easy access to lower Manhattan and outer borough locations via the 2/3 subway train just a block away on Malcolm X Blvd.

With its vastly convenient location, local draws and institutions, along with the combination of a robust residential marketplace, 7 East 115th Street represents an outstanding development opportunity poised to take advantage of neighborhood upside potential.

PROPERTY INFORMATION: Block / Lot#: 1621-0007 Lot Dimensions: 135 x 100.92 feet Lot Size: 13,624 Sq. Ft. (Approx.) Zoning: R7-2 FAR: 4.00 or 4.6 w/ inclusionary housing (6.5 w/ Community Facility Bonus) Buildable SF: 54,497 square feet (Approx as-of-right) Buildable SF w/ CF Bonus: 88,557 square feet (Approx w/ CF Bonus) Assessment (16/17): $401,231 Taxes (16/17): $36,654

For more information, please call owner at (212) 682-2048