126 East 86th Street New York, NY 10028
Highlights ··52,210± max ZSF per residential FAR ··C5-1A zoning district, which has an R10 equivalent ··52 feet of frontage along the highly visible 86th Street corridor, which commands retail rents north of $365 / SF ··Few remaining development sites in coveted Upper East Side ··Median prices for new development condominiums in the area have risen by an average of 26% per quarter since the third quarter of 2017 ··Highly successful luxury residential condominiums nearby with sellouts at $2,500 per square foot ··Centrally located amongst a strong retail tenant roster, including H&M, Whole Foods and Maison Kayser ··Steps from the 4, 5 and 6 trains at the 86th Street and Third Avenue Station and the Q train at the 86th Street and Second Avenue Station ··Eligible for off-site inclusionary housing air-rights ··Not subject to Historic District or Landmark Designation
Avison Young, as exclusive agent, is pleased to offer for sale 126 East residential neighborhoods. Additionally, the neighborhood has seen 86th Street (the “Property” or “Site”), a development sitxe located a recent influx of new developments, which have performed well on the south side of East 86th Street between Lexington Avenue above the citywide average, a testament to the strong demand for and Park Avenue. As one of the few remaining development sites new construction condominiums in the Upper East Side. in the Upper East Side, the Property provides a developer with The site is located in a C5-1A zone, which has a R10 residential the opportunity to create a highly visible development that will equivalent and offers a developer an opportunity to increase the ZFA permanently join one of Manhattan’s preeminent neighborhoods. by 20% by purchasing offsite inclusionary development rights from The Property sits on a 5,221± square feet lot and has the potential Community Board 8 or within a half-mile radius. to be developed up to 52,210± residential square feet. The 52 feet Steps from Central Park, the Metropolitan Museum of Art and the of frontage on 86th Street, one of the Upper East Side’s strongest Guggenheim, 126 East 86th Street presents a unique opportunity for commercial corridors, offers prospective retailers exceptional visibility. an investor or developer to acquire an irreplaceable development site The lot is centrally located in the heart of the Upper East Side, an in one of Manhattan’s most coveted locations. area that has long stood as one of New York City’s most sought after Submit Offers For more information: ASKING PRICE AYTriStateInvestmentSales.com
For more information, please contact:
James Nelson Daniel Tropp Toku Saito Alexandra Marolda Principal, Head of Tri-State Investment Sales Director Associate Director Associate 212.729.6585 212.277.5559 212.230.5994 212.277.5558 [email protected] [email protected] [email protected] [email protected]
1166 Avenue of the Americas, 15th Floor | New York, NY 10036 | 212.729.7140 | avisonyoung.com © 2019 Avison Young – New York, LLC. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. 126 East 86th Street New York, NY 10028
Property Details Between Lexington & Park Location avenues
Block / Lot 1514 / 59
Existing Builing Size (Approx.) 13,575 SF
Stories 2
Lot Dimensions (Approx.) 51' x 102'
Lot Size (Approx.) 5,221 SF
Zoning C5-1A
FAR Residential 10.00x East 86th Street Community Facility 10.00x
Commercial 4.00x 1514 Residential Development Rights 52,210 SF 59
Community Facility Development 52,210 SF Rights Avenue Park Lexington Avenue Lexington Commercial Development Rights 20,884 SF East 85th Street
For more information: Submit Offers AYTriStateInvestmentSales.com ASKING PRICE
For more information, please contact:
James Nelson Daniel Tropp Toku Saito Alexandra Marolda Principal, Head of Tri-State Investment Sales Director Associate Director Associate 212.729.6585 212.277.5559 212.230.5994 212.277.5558 [email protected] [email protected] [email protected] [email protected]
1166 Avenue of the Americas, 15th Floor | New York, NY 10036 | 212.729.7140 | avisonyoung.com © 2019 Avison Young – New York, LLC. This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.