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247-249 E 117th St
0.1 Acres of Residential Land Offered at $7,500,000 in New York, NY 10035
Executive Summary
The Site is split between several zoning districts. 45 feet of the lot width off of 2nd Avenue is in the Special East Harlem
Corridor District and is zoned R9A with a C2-5 commercial overlay. The maximum residential FAR is 8.5. The commercial
FAR is 2.0. The Special East Harlem Corridor District is also a Mandatory Inclusionary Housing (MIH) area. The remaining 10 feet of the lot width is zoned R7A with a FAR of 4.0.
The Site offers approximately 35,000 buildable square feet, as of right, allowing for a mixed-use residential building with
commercial on the ground floor. Additionally, the Property qualifies for the 421( a) tax abatement.
The Property represents a prime development opportunity in a market with increasingly strong demand. The Site is
ideal for a residential or mixed-use development or for an end-user to establish a presence in a highly desirable location.
Data Room Click Here to Access
- Offering Memorandum
Property Facts
| Price | $7,500,000 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 0.10 AC |
| Price | $7,500,000 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.10 AC |
1 Lot Available
Lot
| Price | $7,500,000 | Lot Size | 0.10 AC |
| Price Per AC | $78,496,222 |
| Price | $7,500,000 |
| Price Per AC | $78,496,222 |
| Lot Size | 0.10 AC |
Located on the north side of East 117th Street, between Second and Third Avenues, the Property consists of an unimproved lot that is approximately 55’ x 75.67’ and has a footprint of 4,162 square feet.
Description
Located on the north side of East 117th Street, between Second and Third Avenues, the Property consists of an unimproved lot that is approximately 55’ x 75.67’ and has a footprint of 4,162 square feet.
PROPERTY TAXES
| Parcel Number | 1667-0120 | Improvements Assessment | $0 |
| Land Assessment | $769,950 | Total Assessment | $524,610 |
PROPERTY TAXES
zoning
| Zoning Code | C1-5/R8A (Commercial district predominantly residential in character) |
| C1-5/R8A (Commercial district predominantly residential in character) |
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Brian Leary -
Jidan Kim -
James O'Neill -
Bridge Property Advisors
Presented by
247-249 E 117th St
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