1516 park avenue
FOR SALE
1516 PARK AVENUE New York, NY 10029
DEVELOPMENT SITE WITH APPROVED PLANS
PROPERTY FEATURES Location
Located on the block endcap bound by Park Avenue, East 110th and East 111th Streets
Address
1516 Park Avenue
94 E 111TH Street
Block / Lot
1616 / 36
1616 / 38
Lot Dimensions
34’ x 201.83’
16’ x 100.92’
Lot Size
5,450 SF
1,615 SF
Zoning
C1-4 C1-5 / R7-2 R8A C1-4 / R8A
Assessment (16/17)
$474,528 (Class 4)
$138,426 (Class 2A) $612,954
Taxes (16/17)
$50,566
$17,833
Combined
7,065 SF
$68,399
All square footage estimates are approximate. Tax information is based on the DOF tentative assessment for January of 2016 and tax rates for 15/16. These figures are not guaranteed and are subject to change.
PER APPROVED PLANS Approved Structure Gross SF Above Grade
48,599 SF
Residential FAR
4.00 / 6.02
Community Facility FAR
6.5
Residential Floor Area
43,118 SF
Commercial Floor Area
4,742 SF
Community Facility Floor Area
739 SF
Cellar Floor Area (Below Grade)
7,037 SF
ASKING PRICE
$12,500,000
$11,250,000 OR $231/BSF For more information, please contact: Brendan Maddigan, Director 718.307.6507
Lev Kimyagarov, Director 212.660.7729
[email protected]
[email protected]
Mark Lively, Associate Director 718.307.6524
Robert Shapiro, Executive Vice President 212.660.7717
[email protected]
[email protected]
CUSHMAN & WAKEFIELD 275 Madison Avenue, 3rd Floor, New York, NY 10016 cushmanwakefield.com Cushman & Wakefield copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
FOR SALE
1516 PARK AVENUE New York, NY 10029
DEVELOPMENT SITE WITH APPROVED PLANS
6
4 5 Marcus Garvey Park
1516 PARK AVENUE 2
3 6
East Harlem
Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of a development site with approved plans located at 1516 Park Avenue in East Harlem, NY. The 7,065 SF site comprising two adjacent tax lots has been approved for a 48,599 SF mixed-use building with over 270 feet of combined frontage. The proposed structure will house 7 studio, 19 one-bedroom and 18 two-bedroom apartments above a 4,742 SF retail space, a 739 SF community facility and a 7,037 SF cellar. The site is zoned C1-4/R8A with partial C1-5/R7-2 zoning, allowing for up to 38,347 BSF of development rights. Lot 36 measures approximately 5,450 SF and is vacant, while Lot 38 measures 1,615 SF and is currently improved by a three-story building. 1516 Park Avenue is conveniently located within a block of the 6 Train Station on 110th Street and within two blocks of Central Park. The 2, 3 Trains also stop in close proximity. This site offers a unique opportunity to build a mixed-use structure in a developing neighborhood of Manhattan and capitalize on growing residential rents in the $50/SF range. Future condominium conversion is also possible yielding sellouts upwards of $1,000/SF.
Central Park
1516 PARK AVENUE
N
ASKING PRICE
$12,500,000
$11,250,000 OR $231/BSF
For more information, please contact: Brendan Maddigan, Director 718.307.6507
Lev Kimyagarov, Director 212.660.7729
[email protected]
[email protected]
Mark Lively, Associate Director 718.307.6524
Robert Shapiro, Executive Vice President 212.660.7717
[email protected]
[email protected]
CUSHMAN & WAKEFIELD 275 Madison Avenue, 3rd Floor, New York, NY 10016 cushmanwakefield.com Cushman & Wakefield copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
1516 PARK AVENUE New York, NY 10029
DEVELOPMENT SITE WITH APPROVED PLANS
PROPERTY FEATURES Location
Located on the block endcap bound by Park Avenue, East 110th and East 111th Streets
Address
1516 Park Avenue
94 E 111TH Street
Block / Lot
1616 / 36
1616 / 38
Lot Dimensions
34’ x 201.83’
16’ x 100.92’
Lot Size
5,450 SF
1,615 SF
Zoning
C1-4 C1-5 / R7-2 R8A C1-4 / R8A
Assessment (16/17)
$474,528 (Class 4)
$138,426 (Class 2A) $612,954
Taxes (16/17)
$50,566
$17,833
Combined
7,065 SF
$68,399
All square footage estimates are approximate. Tax information is based on the DOF tentative assessment for January of 2016 and tax rates for 15/16. These figures are not guaranteed and are subject to change.
PER APPROVED PLANS Approved Structure Gross SF Above Grade
48,599 SF
Residential FAR
4.00 / 6.02
Community Facility FAR
6.5
Residential Floor Area
43,118 SF
Commercial Floor Area
4,742 SF
Community Facility Floor Area
739 SF
Cellar Floor Area (Below Grade)
7,037 SF
ASKING PRICE
$12,500,000
$11,250,000 OR $231/BSF For more information, please contact: Brendan Maddigan, Director 718.307.6507
Lev Kimyagarov, Director 212.660.7729
[email protected]
[email protected]
Mark Lively, Associate Director 718.307.6524
Robert Shapiro, Executive Vice President 212.660.7717
[email protected]
[email protected]
CUSHMAN & WAKEFIELD 275 Madison Avenue, 3rd Floor, New York, NY 10016 cushmanwakefield.com Cushman & Wakefield copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
FOR SALE
1516 PARK AVENUE New York, NY 10029
DEVELOPMENT SITE WITH APPROVED PLANS
6
4 5 Marcus Garvey Park
1516 PARK AVENUE 2
3 6
East Harlem
Cushman & Wakefield has been retained on an exclusive basis to arrange for the sale of a development site with approved plans located at 1516 Park Avenue in East Harlem, NY. The 7,065 SF site comprising two adjacent tax lots has been approved for a 48,599 SF mixed-use building with over 270 feet of combined frontage. The proposed structure will house 7 studio, 19 one-bedroom and 18 two-bedroom apartments above a 4,742 SF retail space, a 739 SF community facility and a 7,037 SF cellar. The site is zoned C1-4/R8A with partial C1-5/R7-2 zoning, allowing for up to 38,347 BSF of development rights. Lot 36 measures approximately 5,450 SF and is vacant, while Lot 38 measures 1,615 SF and is currently improved by a three-story building. 1516 Park Avenue is conveniently located within a block of the 6 Train Station on 110th Street and within two blocks of Central Park. The 2, 3 Trains also stop in close proximity. This site offers a unique opportunity to build a mixed-use structure in a developing neighborhood of Manhattan and capitalize on growing residential rents in the $50/SF range. Future condominium conversion is also possible yielding sellouts upwards of $1,000/SF.
Central Park
1516 PARK AVENUE
N
ASKING PRICE
$12,500,000
$11,250,000 OR $231/BSF
For more information, please contact: Brendan Maddigan, Director 718.307.6507
Lev Kimyagarov, Director 212.660.7729
[email protected]
[email protected]
Mark Lively, Associate Director 718.307.6524
Robert Shapiro, Executive Vice President 212.660.7717
[email protected]
[email protected]
CUSHMAN & WAKEFIELD 275 Madison Avenue, 3rd Floor, New York, NY 10016 cushmanwakefield.com Cushman & Wakefield copyright 2016. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
