1800 Park Avenue

• Large Scale Development
• The site maintains a ZFA of 488,759 with potential to increase to 682,317 through various bonus programs.
• Significant Frontage: The tremendous frontage along Park Avenue, East 124th Street and East 125th Street provide excellent light & air.
• Flexible Zoning: The C4-7, 125th Street (Special District), TA* allows for both residential and commercial as of right.
• Vacant Possession: The existing structures have been demolished and the site has been excavated.
• Transferred Development Rights: Ownership purchased the neighboring TDRs allowing for an additional 127,982 ZFA.
• Convenient Accessibility: The site is around the corner from the 125th Street- Lexington Avenue subway station providing access to the 4 5 6 . Additionally the Metro North station is located at the corner of 125th Street and Park Avenue.

Property Description

BKREA has been retained on an exclusive basis to arrange for the sale of 1800 Park Avenue (“The Site”), a rare mixed-use development opportunity in the East Harlem neighborhood of Manhattan. The site is located on the entire westerly blockfront of Park Avenue between East 124th Street and East 125th Street. The site benefits from significant frontage, with 201.83’ along Park Avenue, 142.5’ facing East 124th Street, and 215’ facing East 125th Street. The site is currently demolished and has been excavated providing prospective developers with significant time and cost savings. The impressive 36,078 sf lot is in the C4-7, 125th Street Special District, allowing for an as-of-right FAR of 9.0 for residential use and 10.0 for commercial use, translating to an as-of-right ZFA of 324,699 residential ZFA and 360,777 commercial ZFA. Additionally, ownership purchased the air rights from the adjacent property, 55 East 124th Street (Lot 24), allowing for an additional 127,982 ZFA. This creates an as-of-right total ZFA of 488,759. Prospective developers could further increase their density to approximately 595,731 ZFA through a combination of non- discretionary bonuses such as affordable housing, arts space, and a fresh food store. Furthermore, developers could utilize additional ZFA through discretionary bonuses (MTA Transit Bonus) to boost their density to 682,317 ZFA. Current ownership has prepared massing studies and a zoning study, conducted by Fried Frank (Zoning Counsel), showcasing the different potential uses of the site. These documents are readily available in the data room. Harlem has experienced a surge in residential development, with new housing projects revitalizing the neighborhood including The Smile and HUBB125, further strengthening 1800 Park Avenue as a remarkable residential development site. This site is sure to be a groundbreaking site that will have a profound impact on the entire neighborhood. Conveniently located in East Harlem, the site is bound to capitalize on the neighborhood’s demand drivers. East Harlem is a dynamic and culturally rich neighborhood with prominent attractions like the Apollo Theatre, El Museo del Barrio, and Marcus Garvey Park. Additionally, 1800 Park Avenue enjoys close proximity to various transit hubs. Among these is the 125th Street / Lexington Avenue subway station, offering access to the 4, 5, and 6 lines, as well as the Harlem-125th Street Metro North station, facilitating connections to Grand Central, Connecticut, Westchester, and Hudson Valley. Furthermore, upcoming plans for the second phase of the Second Avenue Subway will introduce the Q line to the area. There are also several MTA bus lines with stations within walking distance including the M60-SBS, M101, M103, M125.