Development Site - Harlem

7-11 E 115th Street, New York, NY

This property is a 135 foot wide development site located on the north side of East 115th Street between 5th Avenue and Madison Avenue in East Harlem. Zoned R7-2 (4.00 FAR or 4.6 FAR with inclusionary housing, – Wide Street), the property permits approximately 88,556 buildable square feet (w/ CF bonus) or 54,497 buildable square feet (as-of-right) for a large scale residential development. Please note the subject property is encumbered by an easement that requires capacity for nineteen (19) parking spaces at 1760 Madison Avenue.

The property is located in the rapidly expanding neighborhood of East Harlem, an area slated for considerable growth given the City’s proposed rezoning initiatives. The site is surrounded by bustling retail and various new residential developments, several of which are consistently achieving condo sellouts north of $1,000 per square foot. Local neighborhood attractions include Marcus Garvey Park, Central Park, the Harlem Meer, Columbia University, the Silberman School of Social Work at Hunter College, and the East Village Plaza.

The property also enjoys easy access to lower Manhattan and outer borough locations via the 2/3 subway train just a block away on Malcolm X Blvd. With its vastly convenient location, local draws and institutions, along with the combination of a robust residential marketplace, 7 East 115th Street represents an outstanding development opportunity poised to take advantage of neighborhood upside potential.