7-11 EAST 115TH STREET, NEW YORK, NY 10029 54,496 BSF As-of-Right, 88,556 BSF w/ Community Facility, Development Site | FOR SALE
PROPERTY INFORMATION Block / Lot 1621 / 7 Lot Dimensions 135' x 100.92' Lot Size 13,624 Sq. Ft. (Approx.) Zoning R7-2 FAR 4.00 FAR w/ Community Facility 6.50 Buildable Area (as-of-right) 54,496 Sq. Ft. (Approx.) Buildable Area (w/ Community Facility) 88,556 Sq. Ft. (Approx.) East 116 Assesment (19/20) $504,540 th Street Real Estate Taxes (19/20) $53,047
INVESTMENT HIGHLIGHTS
Avenue th 5 • EFFICIENT RECTANGULAR LAYOUT East 115 • SUBSTANTIAL LOT AREA OF 13,624 SQ. FT. th Street Madison Avenue • EXTENSIVE FRONTAGE OF 135’ • LARGE COMMUNITY FACILITY BONUS - 88,558 BUILDABLE SQ. FT.
54,496 88,556 135' X 100.92' EAST HARLEM Buildable SF (as-of-right) Buildable SF (w/ Community Facility) Lot Dimensions Location
PROPERTY DESCRIPTION
Ariel Property Advisors is pleased to present 7-11 East 115th Street, a 135’ wide The asset is located close to the border between East and Central Harlem, in the development site located on the north side of East 115th Street between Fifth heart of rapidly expanding neighborhoods, where the area has demonstrated Avenue and Madison Avenue in East Harlem. various new residential and condominium projects since the recent rezoning took place. Various completed condominium developments are achieving Zoned R7-2 (4.00 FAR – Wide Street), the site permits approximately 54,496 condo sellouts above $1,000 per square foot. Transportation options are also in buildable square feet (as-of-right) and approximately 88,556 buildable square feet abundance, providing access to lower Manhattan via the 2, 3 and 6 trains at the with community facility bonus, suitable for a large-scale residential development. 116th Street station(s), located on Malcolm X Boulevard and Lexington Avenue, Please note, the subject property is encumbered by an easement that requires respectively. Local neighborhood attractions include Central Park North, Marcus capacity for nineteen (19) parking spaces at 1760 Madison Avenue. 7-11 East 115th Garvey Park, the Harlem Meer, CUNY Hunter College’s Silberman School of Social Street is not encumbered by Mandatory Inclusionary Housing (MIH) designation, Work, and Columbia University. therefore provides unobstructed potential for condominium or residential development. With its immensely convenient location, scale, frontage and proximity to transportation, 7-11 East 115th Street represents a prime development opportunity in an advantageous neighborhood with demonstrated demand for residential product.
OWNERSHIP REQUESTS PROPOSALS 212.544.9500 arielpa.nyc
For More Information Please Contact Our Exclusive Sales Agents at 212.544.9500 I arielpa.nyc For Financing Info
Victor Sozio x12 Shimon Shkury x11 Michael A. Tortorici x13 Marko Agbaba x32 Sean O'Brien x73 Paul McCormick x45 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected]
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made below, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein. 1 July 2019 10:07 pm Bx7 to Riverdale/ 1 263 St via BRIDGE BROADWAY Riverdale Av Bx20 to
HENRY HUDSON BRIDGE 9 AV Riverdale/ 246 St via BAKER Henry Hudson Pkwy INWOOD HILL FIELD NATURE CENTRE
W 215 ST 1 INWOOD HILL PARK TERR WEST PARK ISHAM PARK
INWOOD 207 ST ISHAM ST TENTH AV TENTH
A W 207 St UNIVERSITY 207 St HEIGHTS DYCKMAN 1 NOUSE W 204 ST BRIDGE
DYCKMAN ST SEAMAN AV Bx12 to Bay Plaza ACADEMY ST VERMILYEA AV SHERMAN AV via Fordham Rd. and A BROADWAY Pelham Pkwy THE (To Orchard Beach summers only) CLOISTERN DYCKMAN ST MUSEUM W 201 ST INWOOD 1
ELLWOOD ST
RIVER SIDE DRIVE
PETER JAY SHARP FORT BOATHOUSE TRYON HILLSIDE AV PARK
1 W 191 ST FORT GERGEAV
A W 190 ST HENRY HUDSON PARKWAY W 190 ST
OVERLOOK TERRACE
FORT WASHINGTON AV W 186 ST BENNETT AV
YESHIVA RIVER HARLEM UNIVERSITY
CABRINI BLVD BROADWAY
1 181 ST
WADSWORTH AV WADSWORTH WASHINGTON A W 181 ST BRIDGE W 180 ST
W 179 ST
W 178 ST Bx3 Riverdale FORT W 179 ST 238 St - Bway W 178 ST W 177 ST WASHINGTON GRORGE WASHINGTON Bx11 to West PARK BRIDGE BUS STATION Farm Rd via 170 St Bx13 to Yankee W 175 ST Stadium via A HIGHBRIDGE Odgen Av WASHINGTON PARK Bx35 to West GEORGE WASHINGTON BRIDGELITTLE RED Farms Rd via 167 St
LIGHTHOUSE AV AUDUBON
BROADWAY Bx36 to Olmstead HEIGHTS Av/Randall Av
HARLEM RIVER DR
AMSTERDAM AV AMSTERDAM HAVEN AV
ST NICHOLAS AV NICHOLAS ST via 180 St
RIVERSIDE DR 1 A C W 168 ST Washington hts TH 168 St
7-11FORT WASHINGTON AV EAST 115 STREET, NEW YORK, NY 10029 54,496 BSF As-of-Right,W 166 ST 88,556 BSF w/ Community Facility, Development Site | FOR SALE W 165 ST
MORRIS-JUMEL W 163 ST MANSION C 168 ST Amsterdam Av
th NorthRIVERSIDE DR side of East 115 Street between HARLEM RIVER DRIVE N Madison Avenue and 5th Avenue S D ST NICHOLAS AVE RIVERSIDE DR B 1 W 157 ST 157 ST EDGECOMBEAV MACOMBS B D DAM BRIDGE W 155 ST th AUDUBON C East 116 Street
TERRACE 155 ST
148TH ST / LENOX TERMINAL STATION W 150 ST W 150 ST JACKIE 3
BROADWAY ROBINSON
AMSTERDAM AV AMSTERDAM PARK
HARLEM RIVER DR Avenue W 147 ST W 147 ST th
5 A C 145 ST W 146 ST 2
B D AVE EDGECOMBE BRADHURST AVE BRADHURST 1 Madison Avenue 145 ST BRIDGE W 145 ST W 145 ST 3 145 ST
W 143 ST East 115th Street RIVERBANK ST NICHOLAS AVE STATE PARK W 139 ST W 139 ST HAMILTON PL
CONVENT AVE CONVENT MADISON AV BRIDGE
W 137 ST AVE W 137 ST A C TH METRO 4NORTH 1621 71 135’ X 100.92’ 13,624 5 137 ST CITY COLLEGE B 5 Block Lot Lot Dimensions 135 ST Lot Area SF W 135 ST 6 W 135 ST ST NICHOLAS PARK 2 3 THE BRONX 135 ST
LENOX AVE LENOX Bx15 from Fordham Plaza W 131 ST 3 AVE BRIDGE W 130 ST Bx15 to Fordham 1 East River Plaza BLVD DOUGLASS FREDERICK Plaza via Third Av W 129 ST RIVERSIDE DR 1 125 ST
2 One East Harlem BLVD JR POWELL CLAYTON ADAM WILLIS AVE BRIDGE
W 127 ST A C ROBERT F. KENNEDY BRIDGE DR MARTIN LUTHER KING BLVD 7 B D W 126 ST HARLEM 6 E 126 ST 3 Sendero Verde METRO 125 ST 2 3 AVE MADISON ROBERT F. KENNEDY BRIDGE CLARENONT AV CLARENONT 13 16 15 NORTH 5 2 W 125 ST Q Т E 125 ST PARK
4 LexingtonRIVERSIDE Gardens II 8 E 124 ST BROADWAY W 124 ST PALADINO AVE MARCUS RANDALL’S GRANT’S5 Gotham East 126th Residential TOMB GARVEY E 122 ST ISLAND PARK
6 Silberman School of Social Work AVE 1
MT MORRIS PARK W PARK MORRIS MT PARK AVE PARK W 120 ST E 120 ST EAST 7 Proton Center Subject Property 1
MORNINGSIDEAV 6 COLUMBIA W 118 ST E 118 ST HARLEM
MANHATTAN AV MANHATTAN 10 UNIVERSITY 117 St 116 St 12 9 ICAHN 8 Whole Foods ST NICHOLAS AVE 6 11 E 117 ST B C 2 3 AVE PLEASANT STADIUM
AMSTERDAM AV AMSTERDAM 14 W 116 ST W 116 ST E 116 ST W 116 ST 1 AVE LEXINGTON 9 Target 116 St MORNINGSIDE Columbia W 115 ST E 115 ST
PARK AVE LENOX University
FREDERICK DOUGLASS BLVD DOUGLASS FREDERICK K 1 East River Plaza
MADISON AVE MADISON 2 AVE 2 10 Costco AVE 3 L W 113 ST AVE 5 A JEFFERSON W CATHEDRAL W 112 ST E 112 ST PARK 11 TD Bank Cathedral Central Park E Cathedral OF ST JOHN North (110 St) T Pkwy (110 St) Pkwy (110 St) 3
2 3 U THE DIVINE DR MORNINGSIDE 1 B C N 12 Rite Aid E 110 ST I E 110 ST 6 M CENTRAL PARK 0 WARD’S RIVERSIDE13 Starbucks DANA DISCOVERY 110 ST 1
PARK BROADWAY W 108 ST NORTH CENTRAL ISLAND HUDSON RIVER HUDSON 4
14 BlinkDR RIVERSIDE Fitness HARLEM MEER DUKE ELINGTON BLVD W 106 ST LASKER E 106 ST E 106 ST RINK Q Т 15 Shake Shack E 105 ST
W 105 ST EL MUSEO DEL FDR DRIVE FDR W 104 ST BARRIO E 104 ST 16 Bed Bath & Beyond MUSEUM OF THE 6 ROBERT F. KENNEDY BRIDGE W 103 ST 1 W 103 ST B C 103 ST 103 ST 103 ST CITY OF NEW YORK E 102 ST
W 101 ST NORTH E 100 ST W 100 ST MEADOW M60 LaGuardia OWNERSHIP REQUESTS PROPOSALS AV 5 212.544.9500 Airport
arielpa.nyc W 97 ST W 97 ST E 97 ST
W 96 ST CENTRAL PARK E 96 ST E 96 ST For More Information Please96 ST Contact Our Exclusive SalesB C Agents at 212.544.9500 I arielpa.nyc Q Т For Financing Info 1 2 96 ST 6 96 ST 3 Victor Sozio x12 Shimon Shkury x11 Michael A. Tortorici x13 Marko Agbaba x32 Sean O'Brien x73E 94 ST Paul McCormick x45 [email protected] [email protected] [email protected] [email protected] [email protected] [email protected]
JEWISH MUSEUM E 92 ST
BROADWAY 1 AV 1 RESERVOIR AV 2 E 91 ST W 91 ST AV 3
COOPER-HEWITT AV PARK
LEXINGTON AV LEXINGTON MADISON AV MADISON
WESTEND AV WESTEND MUSEUM
NATIONAL ACADEMY E 89 ST
The information contained herein has either been given to us by the owner of the propertyWEST PARK CENTRAL or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. As an example,GRACIE all zoning information, COLUMBUS AV COLUMBUS MUSEUM buildable footage estimates and indicated uses AV AMSTERDAM must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependentMANSION upon these estimates and assumptions made below, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal GUGGENHEIMcounsel should evaluate. The prospective86 ST buyer should carefully verify each item of income, and all other information contained herein. 1 July 2019 10:07 pm W 87 ST MUSEUM 4 5 Q Т 6 CARL UPPER W 86 ST E 86 ST SCHURZ 86 ST B C PARK 1 WEST 86 ST YORKVILLE GREAT E 84 ST CHILDREN’S SIDEW 83 ST LAWN E 83 ST E 83 ST MUSEUM OF 81 St - Museum of Natural History METROPOLITAN MANHATTAN AV YORK B C MUSEUM AV END EAST W 81 ST OF ART HAYDEN BELVEDERE CASTLE PLANETARIUM NATURE CENTRE E 80 ST 79 ST BOAT W 79 ST AMERICAN E 79 ST E 79 ST MUSEUM OF BASIN 1 AV 5 NATURAL JOHN RIVERSIDE DR RIVERSIDE 79 ST HISTORY W 77 ST E 77 ST JAY ROOSEVELT 6 UPPER PARK NEW-YORK 77 ST HISTORICAL SOCIETY WHITNEY EAST ISLAND QUEENS W 75 ST MUSEUM E 75 ST LAKE SIDE 72 ST 1 2 AV LEXINGTON Q Т Q102 to Astoria B C E 72 ST 27 Av - 2St 3 W 72 ST E 72 ST ASIA SOCIETY E 71 ST FRICK 68 St E 70 ST
W 70 ST AV 3 BROADWAY COLLECTION Hunter
College MAIN ST 6 E 68 ST
HUNTER COLLEGE FDR DRIVE
SHEEP E 67 ST FREEDOM PL FREEDOM
RIVERSIDE BLVD RIVERSIDE MEADOWN W 66 ST W 66 ST ROCKEFELLER 1 E 65 ST
W 65 ST UNIVERSITY
YORK AV YORK
MADISON AV MADISON 1 AV 1 66 St Lincoln Ctr AV 2 LINCOLN CENTRAL PARK ZOO AV PARK F 63 ST CENTRE E 63 ST E 63 ST WOLLMAN RINK Lexington F F Av / 59 St ROOSEVELT Lexington W 62 ST A C POND N Q ISLAND N Q 5 Av / 59 St Av / 63 St Q32 to Jackson Heights CENTRAL R E 61 ST R B D N Q TRAMWAY 81 St - Northen Blvd 1 E 60 ST E 60 ST PARK SOUTH R ED KOCH QUEENSBORO BRIDGE Q30 to Jamaica FORDHAM 59 St 109 Av - 157 St
AMSTERDAM AV AMSTERDAM Columbus E 59 ST WESTEND AV WESTEND UNIVERSITY COLUMBUS Circle 59 St CIRCLE Q101 to Astoria W 58 ST 4 5 Q N F 19 Av - Hazen St JOHN JAY 6 E 57 ST E 57 ST W 57 ST COLLEGE W 57 ST R W 57 ST CARNEGIE HALL SUTTON HUDSON E 55 ST RIVER Lexington PARK B D MUSEUM OF Av / 53 St PLACE W 54 ST E M E MODERN ART AV PARK DE WITT AV 7 W 53 ST E 53 ST E 53 ST CLINTON W 53 ST E M E M PARK AV 8 5 Av / 53 St 6 51 St PIER 92 MIDTOWN C E 1 RADIO CITY E 50 ST PIER 90 W 50 ST W 50 ST CLINTON E 49 ST PASSENGER SHIP W 49 ST W 49 ST TERMINAL 49 St N Q B D ROCKEFELLER TURTLE E 48 ST
INTREPID V R F M CENTER E 47 ST
A W 47 ST SEA-AIR-SPACE 47-50 Sts GRAND BAY 2 Rockefeller Ctr
MUSEUM 1 42 St W 46 ST CENTRAL
PIER 86 TERMINAL
9 AV 9 10 AV 10 11 AV 11 W 45 ST B D PIER 84 Grand AVENUE OF THE AMERICAS THE OF AVENUE UNITED NY WATER TAXI Times Sq F M Central E 44 ST W 44 ST 42 St 5 Av NATIONS 7 42 St 42 St A C 1 2 METRO PIER 83 W 43 ST 7 Bryant 7 7 3 Park NORTH CIRCLE LINE E E 42 ST W 42 ST Times Sq NEW YORK PIER 81 S 4 5 E 41 ST WORLD YACHT W 41 ST N R 42 St PUBLIC FDR DRIVE 6 PORT Q S LIBRARY W 40 ST AUTOHORITY W 39 ST HELL'S BUS TERMINAL BROADWAY MIDTOWNMIDTOWN PIER 79 MURRAYE 38 ST
FERRIES TO W 38 ST
PARK AV PARK
3 AV 3
1 AV 1 2 AV 2 NEW JERSEY PIER 78 SOUTHAV 6 SOUTH CENTRAL CENTRAL KITCHEN AV LEXINGTON JAVITS W 37 ST HILL E 34 St PIER 1 2 B D F AV MADISON E 36 ST East River Ferry CENTRE W 36 ST 34 St Penn Station 3 M N Q MORGAN NY Water Taxi W 35 ST A C 34 St R34 St LIBRARY Ferries to NJ 12 AV 12 Herald Sq E Penn Station E 34 ST W 34 ST EMPIRE STATE W 34 ST 33 ST PATH BUILDING HERALD 6 E 33 ST W 33 ST HELIPORT LIRR NJ SQUARE LIRR, AMTRAK W 32 ST AMTRAK, NJ TRANSIT W 32 ST TRANSIT W 31 ST AMTRAK W 31 ST MADISON PENN W 30 ST W 30 ST SQUARE STATION W 30 ST KIPS BAY GARDEN E 29 ST W 29 ST 28 St M34A 1 W 28 ST 28 St 6 E 28 ST
W 28 ST AV 7
8 AV 8
9 AV 9 10 AV 10 11 AV 11 28 St M15 N R WATERSIDE W 27 ST FASHION E 26 ST PLAZA W 26 ST W 26 ST INSTITUTE OF EAST RIVER TECHNOLOGY MADISON E 25 ST W 25 ST
12 AV 12 AV 6 SQUARE 23 St 23 St PARK 23 St E 24 ST W 24 ST LINE HIGH W 24 ST C E F M PATH 6 E 23 ST W 23 ST W 23 ST E 23 ST BARUCH 1 N R COLLEGE 23 St FLATIRON PETER COOPER 23 St PIER 63 VILLAGE FDR DRIVE NY WATER TAXI W 21 STCHELSEA BROADWAY GRAMERCY DISTRICT PARK E 20 ST E 20 ST W 20 ST GRAMERCY CHELSEA W 19 ST
PIERS W 18 ST 1 W 18 ST SOUTH AV PARK E 18 ST 18 St W 17 ST STUYVESANT UNION STUYVESANT TOWN W 16 ST SQUARE E 16 ST SQUARE 14 St PARK PARK A C E F M 14 St PATH
WEST ST WEST W 14 ST W 14 ST E 14 ST 14 St L L 8 Av 1 2 L N Q 4 5 L L 6 14 St 3 Avenue 1 Avenue HIGH LINE 3 6 Av R Union Sq GREENWICH AV
ELEVATED 8 AV L AVENUE C AVENUE
BWAY E 11 ST 2 AV 2 4 AV 4 AV 3 PARK ABINGDONSO 14 St AV 1 Union Sq PATH AV 5 GREENWICH ST E 10 ST
BANK ST UNIVERSITY PL JANE ST W 9 ST E 9 ST TOMPKINS EAST W 11 ST SQUARE W 8 ST E 8 ST ST MARKS PL PARK RIVER BETHUNE ST D AVENUE PERRY ST 8 St - NYU 6 E 7 ST PARK N R Astor Pl
6 AV 6 THE CHARLES ST A C E WASHINGTON EAST B D F SQUARE COOPER W 10 ST NYU UNION E 5 ST M W 4 St W 4 ST PARK
1 AVENUE A AVENUE VILLAGEE 4 ST B AVENUE Christopher St W 3 ST
GREENWICHLAFAYETTE ST
PATH CHRISTOPHERSheridan ST Sq E 3 ST WEST ST WEST
HUDSON ST VILLAGE E 2 ST 7 AV S AV 7 BLEECKER ST E HOUSTON ST PIER 45 6 Bleecker St E 1 ST COLUMBIA ST
SULLIVAN ST T AV OF THE AMERICAS MAC DOUGAL ST THOMPSON ST NY WATER TAXI LA GUARDIA PL FDR DRIVE TON S SBS MOR WHOSTON ST F STANTON ST T South- CLINTON ST
SUFFOLK ST PATH OY S 2 Avenue NORFOLK ST LER B D Broadway- bound Lafayette St stop only ESSEX ST 1 Prince St F M WHOSTON ST PRINCE ST RIVINGTON ST WILLIAMSBURG BRIDGE Houston St N R J Z
WASHINGTON ST
ALLEN ST ALLEN DELANCEY ST M
LEWIS ST
SOHO ST CHRYSTIE BOWERY
BROADWAY PIER 40 SPRING ST 6 PITT ST
MOTT ST MOTT F LOWE
Spring St ST MULBERRY C E J Z Delancey St SPRING ST Spring St J Z M Essex St EAST SIDE BROOME ST BROOME ST GRAND ST Bowery JACKSON ST
W BROADWAY
B D LUDLOW ST CANAL ST ORCHARD ST HUDSON GRAND ST Grand St CHERRY ST RIVER 1 LITTLE ELDRIDGE ST A C E East Canal St PARK Canal St Broadway CLINTON ST MONTGOMERY ST Canal St Canal St ITALY VARICK ST Canal St F
R 6 CENTRE ST E BROADWAY WEST ST WEST VESTRY ST J Z
N Q CANAL ST MADISON ST TRIBECA Canal St RUTGERS ST 1 CHINATOWN Franklin St FRANKLIN ST
LAFAYETTE ST WORTH ST HARRISON ST
CHURCH ST Chambers St Chambers St CATHERINE ST BMCC 1 2 A C Chamber St J Z F 3 W BROADWAY CHERRY ST MANHATTAN BRIDGE NELSON PARK ROW CHAMBERS ST BROOKLYN ROCKEFELLER 4 5 6 PARK S Park BRIDGE ST JAMES PL B D N.END AV CITY Place R CITY HALL City HALL N Q RIVER TERRAE 2 3 Hall SOUTH STREET MURRAY ST FRANKFORT ST SEAPORT BROOKLYN World Trade PACE Center UNIV. VESEY ST BROOKLYN BRIDGE A C Fulton St WFC GOLD ST WORLD WORLD WATER ST
4 PEARL ST FINANCIAL TRADE 5 Fulton St PEARL ST FERRIES TO BEW JERSEY PATH 2 3 CENTER CENTER Fulton St FRONT ST J Z Fulton St SOUTH STREET SITECortlandt St LIBERTY ST R SEAPORT NORT COVE CORTLANDT ST FINANCIALFUL TON S PIER 17 FERRIES TO 9/11 MEMORIAL NJ LIBERTY STATE PARK T NY WATER TAXI CENTRY NASSAU ST DISTRICT ALBANY ST WILLIAM ST BROADWAY NY WATER SOUTH END AV RECTOR ST TRINITY PL TRINITY Wall St PIER 16 TAXI A R NYSE 2 3 SEAPORT C J WATER ST BATTERY 1 4 SOUTH ST LIBERTY CRUISES Rector St CHARGING WALL ST PARK CITY 5 Z BULL Broad St GREENWICH Wall 3 W THAMES ST St 2 PIER 11 BROAD ST VIETNAM 4 5 BATTERY PL VETERAN’S EAST RIVER FERRY PEARL ST SOUTH COVE ST WEST Bowling Green MEMORIAL NY WATER TAXI 1 PL FERRIES TO NJ STATE ST Whitehall JEWISH HERITAGE St R SOUTH ST MUSEUM WHITEHALL ST
BATTERY M15 Local 4 5 SLIP 6 PARK NY WATER TAXI South Ferry 1
FERRIES TO: ELLIS ISLAND, PIER 5 STATUE OF LIBERTY FERRIES TO STATEN ISLAND (ST. GEORGE)