Aaron of Horvath & Tremblay sells East Harlem development site for $5.5 million

Manhattan, NY Robert Aaron of Horvath & Tremblay has completed the sale of 2148-2150 3^rd Ave. and 183 East 117^th St. Horvath & Tremblay exclusively represented the seller and procured the buyer. The cash-flowing redevelopment site sold for $5.5 million

2148-2150 3^rd Ave. and 183 East 117^th St. presented the opportunity to acquire a development site with frontage along two streets. The 3^rd Ave. property is improved with a two-story, 9,875 s/f building. The parcel is 48 ft. by 135 ft. (irregular shaped lot) and contains 0.15 acres. The property offers 48 ft. of frontage along 3^rd Ave.(in between E 117^th St. and E 118^th St). 183 E 117^th St. is a vacant parcel. The parcel is 19 ft. by 90 ft. (irregular shaped lot) and contains 0.04acres. The property offers 19 ft. of frontage along E 117^th St. The two properties conjoin in the rear. 

The vacant properties offer developers the opportunity to purchase a development site with 48 ft. of frontage on 3^rd Ave. and 19 ft. of frontage on East 117^th St. that allows for 64,350 buildable s/f “As of Right” in the East Harlem neighborhood. 

The properties are located in a mixed-use (commercial and residential) neighborhood with many walkable amenities, including public transportation (Subway, Metro North, and Municipal Bus), Central Park, Randall’s Island, and Marcus Garvey Park and area retailers, restaurants, and bars. The properties offer access to FDR Dr., Harlem River Dr., the RFK Bridge, and I-87 and I-278.