81 110Th StNew York, NY 10029

This exceptional commercial land parcel, located at 81 E 110th St in New York, NY 10029, presents a unique investment and development opportunity. The property boasts a 2,180 square foot lot size (0.05 acres) and is zoned R7-2, allowing for significant development potential. Currently generating a net operating income of $150,000 annually from three retail stores operating under short-term leases, this property offers immediate cash flow. The existing retail building provides a stable income stream while the substantial buildable air rights, ranging from 31,553 to 39,000 square feet, unlock significant future development possibilities. This prime location is just two blocks from Central Park, offering unparalleled access to one of New York City's most iconic landmarks and a vibrant, high-traffic area. Importantly, there are no mandatory affordable or inclusionary housing requirements associated with this property, simplifying the development process. The asking price for this exceptional property is $5,250,000. This is a rare chance to acquire a high-yield investment property with substantial upside potential in a highly desirable New York City location.