1638 Park Avenue

New York NY 10035

Land

Currently for sale - view listing

Overview

Prime Harlem development opportunity! Compass has been exclusively retained by Ownership to sell 1638 Park Ave, (the "Site", or the "Land"). 1638 Park is ideally situated on the corner of E116th and Park, and sits on a 25x90 lot with a 2250Sq Ft parcel area of land, and 90ft of frontage on E116th st; an up and coming retail corridor. The site is only steps away from the E116th street subway, a few minute walk to the future Q train located at 106th street and only seven blocks to Central Park. The property currently has approved plans and is past SOE, piling stages and is ready to go vertical. Footings were in place before June 15th 2022, so the project will be sold with the coveted (and now discontinued) 421A tax abatement. The current use plan of the project has 24 units (25% affordable) and 2 retail spaces. Zoned R9/ C2-5 (MIH) : FAR. 8.5. The secured 421-A tax relief reduces all real estate taxes during the construction period within 3 years and the next 25 years, and 25% of the real estate tax in the 26th - 35th years. Located near many other successful new residential/mixed use developments, 1638 Park Ave makes for an ideal investment opportunity in a rapidly evolving part of Manhattan.

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Land

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Sold

For Sale

View the listing for inspection times, agent contact details, and more.

Jonathan Benami

at Compass

View listing

Sales:: (619) 566-0008

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