1713 Madison Ave. New York, NY - Agorafy
1713 Madison Ave. New York, NY NON-PROFIT DEVELOPMENT OPPORTUNITY Located in Carnegie Hill North in Manhattan FOR SALE Property Features Location
East side of Madison Avenue between East 115th Street and East 112th Street
Block / Lot
1620 / 40
Lot Size
146.58’ x 128.58’
(Approx.)
Lot Area SF
18,581
(Approx.) (Approx.)
Building Size
116’ x 108’
Stories
1
Gross SF
12,357
Deed Restriction Zoning / Far
Asking Price: $7,000,000
(Irreg.) (Irreg.)
New building must be for a Non-Profit use and no more than 50 Ft High C1-4 / R7-2
Community Facility FAR
6.50 (As-of-right)
Residential FAR FAR w/ CF Bonus
4.00 (As-of-right) 6.50 (As-of-right)
Total BSF w/ CF Bonus
120,177 (Without deed restriction)
Existing SF
12,357
Add’l Air Rights
108,420 (Without deed restriction)
Assessment (15/16)
$853,020
Taxes (15/16)
$88,057 (Before Exemption)
Property Description
This neighborhood has undergone a recent renaissance given the combination of abundant public transportation, proximity to Central Park and easy access to all of the restaurants and night life of the Upper East Side. The number 6 subway line is conveniently located a few short blocks away at East 116th Street and Lexington Avenue. In addition, as new construction pricing continues to increase, prospective purchasers are now being priced out of the Upper East Side market. This spillover has had a positive effect on the Carnegie Hill North submarket increasing the need for new non-profit neighborhood facilities. For more information please contact one of the agents listed below.
M A D I S O N AV E
The current as-of-right zoning allows for a total of 6.5 FAR, of which 6.5 can be community facility or 4.0 can be residential, 2.0 commercial and/or up to 2.50 can be community facility use. If an agreement can be reached with NYCHA to lift the deed restriction a developer could construct a mixed-use building totaling approximately 120,777 buildable square feet.
E A S T 1 1 5 TH S T
BLOCK 1620
LOT 40
PA R K AV E
Cushman & Wakefield is pleased to bring to market 1713-1727 Madison Avenue; a development site located in the Carnegie Hill North neighborhood of Manhattan. The site is approximately 146.58’ x 128.58’ located on the east side of Madison Avenue between East 112th Street and East 115th Street. The property currently has a deed restriction in place keeping the current and future use to a nonprofit facility. The property is home to a church, but will be delivered vacant. Upon sale, a developer/ user will have the opportunity to either keep the existing structure or construct a new non-profit facility. The deed restriction calls for a building that must be no more than 50’ high but doesn’t limit total square footage. Based upon the current zoning resolution and the maximum lot coverage of 65%, an approximate 60,388 SF building can be constructed. This number is approximate and for informational purposes only. All zoning must be independently verified.
E A S T 1 1 2 TH S T For More Information, Please Contact: Robert Knakal
Lev Kimyagarov
Jonathan Hageman
Elysa Berlin
Chairman (212) 660 7777 [email protected]
Director (212) 660 7729 [email protected]
Director (212) 660 7773 [email protected]
Associate Director (212) 660 7764 [email protected]
Cushman & Wakefield 275 Madison Ave, 3rd Fl New York, NY 10016 phone: +1 212 696 2500 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. 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.
1713 Madison Avenue New York, NY
AV E
EAS T 11
ST
M
A
D
IS O
N
AV E
PA
RK
2 TH
EAS T 11
5 TH
ST
EA ST 1
15 TH
EA ST 1
CENTRAL PARK
ST
PA RK
AV E
AV E N ISO MA D
FIF
TH
AV E
12 TH
ST
Asking Price: $7,000,000 For More Information, Please Contact: Robert Knakal
Lev Kimyagarov
Jonathan Hageman
Elysa Berlin
Chairman (212) 660 7777 [email protected]
Director (212) 660 7729 [email protected]
Director (212) 660 7773 [email protected]
Associate Director (212) 660 7764 [email protected]
Cushman & Wakefield 275 Madison Ave, 3rd Fl New York, NY 10016 phone: +1 212 696 2500 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. 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.
East side of Madison Avenue between East 115th Street and East 112th Street
Block / Lot
1620 / 40
Lot Size
146.58’ x 128.58’
(Approx.)
Lot Area SF
18,581
(Approx.) (Approx.)
Building Size
116’ x 108’
Stories
1
Gross SF
12,357
Deed Restriction Zoning / Far
Asking Price: $7,000,000
(Irreg.) (Irreg.)
New building must be for a Non-Profit use and no more than 50 Ft High C1-4 / R7-2
Community Facility FAR
6.50 (As-of-right)
Residential FAR FAR w/ CF Bonus
4.00 (As-of-right) 6.50 (As-of-right)
Total BSF w/ CF Bonus
120,177 (Without deed restriction)
Existing SF
12,357
Add’l Air Rights
108,420 (Without deed restriction)
Assessment (15/16)
$853,020
Taxes (15/16)
$88,057 (Before Exemption)
Property Description
This neighborhood has undergone a recent renaissance given the combination of abundant public transportation, proximity to Central Park and easy access to all of the restaurants and night life of the Upper East Side. The number 6 subway line is conveniently located a few short blocks away at East 116th Street and Lexington Avenue. In addition, as new construction pricing continues to increase, prospective purchasers are now being priced out of the Upper East Side market. This spillover has had a positive effect on the Carnegie Hill North submarket increasing the need for new non-profit neighborhood facilities. For more information please contact one of the agents listed below.
M A D I S O N AV E
The current as-of-right zoning allows for a total of 6.5 FAR, of which 6.5 can be community facility or 4.0 can be residential, 2.0 commercial and/or up to 2.50 can be community facility use. If an agreement can be reached with NYCHA to lift the deed restriction a developer could construct a mixed-use building totaling approximately 120,777 buildable square feet.
E A S T 1 1 5 TH S T
BLOCK 1620
LOT 40
PA R K AV E
Cushman & Wakefield is pleased to bring to market 1713-1727 Madison Avenue; a development site located in the Carnegie Hill North neighborhood of Manhattan. The site is approximately 146.58’ x 128.58’ located on the east side of Madison Avenue between East 112th Street and East 115th Street. The property currently has a deed restriction in place keeping the current and future use to a nonprofit facility. The property is home to a church, but will be delivered vacant. Upon sale, a developer/ user will have the opportunity to either keep the existing structure or construct a new non-profit facility. The deed restriction calls for a building that must be no more than 50’ high but doesn’t limit total square footage. Based upon the current zoning resolution and the maximum lot coverage of 65%, an approximate 60,388 SF building can be constructed. This number is approximate and for informational purposes only. All zoning must be independently verified.
E A S T 1 1 2 TH S T For More Information, Please Contact: Robert Knakal
Lev Kimyagarov
Jonathan Hageman
Elysa Berlin
Chairman (212) 660 7777 [email protected]
Director (212) 660 7729 [email protected]
Director (212) 660 7773 [email protected]
Associate Director (212) 660 7764 [email protected]
Cushman & Wakefield 275 Madison Ave, 3rd Fl New York, NY 10016 phone: +1 212 696 2500 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. 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.
1713 Madison Avenue New York, NY
AV E
EAS T 11
ST
M
A
D
IS O
N
AV E
PA
RK
2 TH
EAS T 11
5 TH
ST
EA ST 1
15 TH
EA ST 1
CENTRAL PARK
ST
PA RK
AV E
AV E N ISO MA D
FIF
TH
AV E
12 TH
ST
Asking Price: $7,000,000 For More Information, Please Contact: Robert Knakal
Lev Kimyagarov
Jonathan Hageman
Elysa Berlin
Chairman (212) 660 7777 [email protected]
Director (212) 660 7729 [email protected]
Director (212) 660 7773 [email protected]
Associate Director (212) 660 7764 [email protected]
Cushman & Wakefield 275 Madison Ave, 3rd Fl New York, NY 10016 phone: +1 212 696 2500 nyinvestmentsales.com
Cushman & Wakefield Copyright 2015. 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.
