60 116Th StNew York, NY 10026

Property Details for 60 116Th St

Property type

Other commercial real estate

Property subtype

Multifamily properties

Description

This exceptional 10,091 square foot development site, located at 60 West 116th Street in New York City's vibrant West Harlem neighborhood, presents a compelling redevelopment opportunity. The property boasts a 50-foot frontage and extends through the block between 115th and 116th Streets, offering significant potential. Currently zoned C4-5X, the site allows for a buildable area of up to 60,000 square feet, making it ideal for a variety of projects. Its strategic location near Columbia University and Mount Sinai Hospital makes it particularly well-suited for student housing, senior living facilities, or a medical-related development. The property's proximity to the 2 & 3 subway lines and major bus routes ensures excellent accessibility. The asking price is $12,950,000, translating to $256 per square foot based on land value. This represents a unique chance to acquire a vacant, block-through site with substantial air rights (50,455 sq ft) and a history of long-term ownership (last sale 27 years ago). Further details, including operating manuals, are available upon request. This is a rare opportunity to acquire a significant development site in a rapidly growing area of Manhattan.

Location Insight

City

New York

County

New York

State

New York

Latitude

40.8018

Longitude

-73.949

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