1600-1602 Lexington AveNew York, NY 10029

Property Details for 1600-1602 Lexington Ave

Property size (Sq ft)

16,166 SF

Property type

Other commercial real estate

Property subtype

Other land

Description

This exceptional 16,166 square foot development site, located at 1600-1602 Lexington Avenue in New York, NY 10029, presents a unique investment opportunity. Boasting 33 feet of frontage along the bustling Lexington Avenue, this property offers significant potential. The mixed-use zoning (R7-2/C1-5) allows for approximately 9,948 buildable square feet as-of-right, with a community facility (CF) bonus potentially increasing this to 16,166 square feet. This is particularly attractive given the property's proximity to Mount Sinai Hospital. The asking price is $1,900,000, translating to $118 per square foot. Recent sales of nearby condominiums have achieved prices exceeding $1,200 per square foot, indicating strong market demand. The site benefits from convenient access to the 6 subway line at Lexington Avenue, with nearby stations at East 103rd and East 96th Streets. Several townhouse sales in the area have historically surpassed $1,000 per square foot, further highlighting the property's exceptional location and potential for high returns. The lot size is 2,487 square feet. Multiple nearby rental and condominium development projects underscore the vibrant growth of this area. This is a rare chance to acquire a prime development site in a highly sought-after New York City location.

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7894

Longitude

-73.9486

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