224-228 East 118th Street
Property Description
Ariel Property Advisors presents 224-228 East 118th Street, a prime East Harlem development site that includes additional air rights and light & air easement from an adjacent neighbor. The 79’ wide, ~7,980 square foot parcel currently consists of a vacant lot and vacant townhouse. Property Highlights: • Unique Scale: Along with air rights transferred from Lot 37, R7A zoning provides 45,313 SF with Standard FAR and up to 54,376 BSF with the UAP FAR • Layout Optionality: Ownership secured a light and air easement from Lot 37, providing significant flexibility for future building & unit layouts • Strong Residential Location: Centrally located among several recently constructed rental and condominium properties, the property is an ideal candidate for either residential types. • Retail Convenience: Major local and national retailers are steps away at East 116th Street, Second & Third Avenues and the nearby East River Plaza. • Transit Accessibility: Easy access to mass transit is provided by the Lexington Avenue 6 train at East 116th Street, the 4/5 train at East 125th Street and the planned Second Avenue Q train which is slated to have an entrance at East 116th Street. Offering exceptional scale, rare layout optionality via a neighboring easement and prime location, 224-228 East 118th Street represents a premier Northern Manhattan development opportunity.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Highest & best offer |
| Property Types: | Land/Development |
| Price: | $7,000,000 |
| Opportunity Zone: | No |
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