247 East 117th Street

For Sale$8,000,000

247 East 117th Street, New York, NY 10035

  • Land

247 East 117th Street, New York, NY 10035 - Land Space

247 East 117th Street is located at 247 East 117th Street in the East Harlem neighborhood, NY, New York, 10035. The Land building features a total of 35,377 Sqft.

Browse commercial listings in nearby cities

Nearby Listings

Nearby Properties

Also from Ariel Property Advisors

Details

  • Sale Price $8,000,000
  • City New York
  • Neighborhood East Harlem
  • Zip Code 10035
  • Market Manhattan
  • Property Type Land
  • Property Size 35,377 Sqft
  • Lot Size 4,162 Sqft
  • Date Added 06 Nov, 2019

Description

55' Wide, Shovel-Ready, Mixed-Use Development Site. 3rd Party Reports Completed; Plans Pending Approval. Located within 100' of 2nd Avenue corridor, this 55' x 75.67' property was recently rezoned to R9/C2-5 (Max FAR: 8.5), affecting the entire lot. The total development potential is approximately 35,377 buildable square feet (as-of-right), which can be used for mixed-use development. Please note the site is subjected to Mandatory Inclusionary Housing (MIH) zoning provision that requires the residential portion of a new project to comply with MIH Option 1 or 3 (please independently verify all zoning calculations and regulatory requirements). The property will be delivered with plans that are pending approval for a 49-unit mixed-use building. The residential portion consists of 11 studios, 22 one bedrooms, 14 two-bedrooms, and 1 three-bedroom unit. 247 East 117th Street is surrounded by bustling retail and numerous new rental and condominium developments - several of which consistently achieve condo sell-outs north of $1,000 per square foot. Local area attractions, within walking distance from the property, include the East River Plaza, Marcus Garvey Park, Thomas Jefferson Park and the Silberman School of Social Work at Hunter College. A host of national retailers such as Costco, Target, Marshalls, and BestBuy are also within walking distance. Easy access to lower Manhattan and the outer boroughs is available via the 6-train located just three blocks away at East 116th Street and Lexington Avenue. The Second Avenue subway expansion will also greatly benefit the property in the upcoming years.

East Harlem Demographics

The average household income in zip code 10035 is $49,300, from a total of 14,172 households. In terms of employment, there are 87.40 % white-collar and 12.60 % blue-collar jobs in zip code 10035.

Population

  • Total Population99,564
  • Male Population(45.9 %) 45,708
  • Female Population(54.1 %) 53,856
  • Median Age34.40

Income/Financial

  • Average Household Income$58,154
  • Median Household Income$34,015
  • Median Income Under 25$40,550
  • Median Income 25-44$46,552
  • Median Income 45-64$35,303
  • Median Income Over 65$16,849

BROWSE OTHER PROPERTIES IN EAST HARLEM

Check out the links below if you're interested in other types of properties for lease or for sale in East Harlem:

Commercial Brokers Register now to add listings

Michael A. Tortorici

Ariel Property Advisors

(212) 544-9500 x 13

Victor Sozio

Ariel Property Advisors

(212) 544-9500 x 12

Marko Agbaba

Ariel Property Advisors

(212) 544-9500 x 32

Orry Michael

Ariel Property Advisors

(212) 544-9500 x 88

Oliver Elihu

Ariel Property Advisors

(212) 544-9500 x 21