152 124Th StNew York, NY 10035

Property Details for 152 124Th St

Property size (Sq ft)

9,043 SF

Property type

Land

Description

This exceptional development opportunity presents a 2,153 square foot vacant lot situated in the vibrant East Harlem neighborhood of New York City. Located at 152 E 124th St, zip code 10035, this property boasts a highly desirable R7D/EHC/C2-5 zoning designation, permitting the construction of a mixed-use building with a potential buildable square footage ranging from 9,043 to 12,057 square feet. The site benefits from its proximity to excellent public transportation, including the 4/5/6 subway lines just one block away and the Metro North Harlem - 125th Street station two blocks away. This prime location also places the property within easy reach of the bustling 125th Street retail corridor, Marcus Garvey Park, and Randall's Island. Furthermore, the property's strategic position offers convenient access to The Bronx, Queens, and Long Island via the RFK Bridge. The absence of a Mandatory Inclusionary Housing (MIH) requirement presents a significant advantage for developers. Comparable new construction condos in the area have achieved sale prices of approximately $1,000 per square foot, while new rental buildings are commanding mid-$60 per square foot rents. This presents a compelling investment opportunity with significant upside potential. The asking price for this exceptional development site is $1,300,000.

Location Insight

City

New York

County

New York

State

New York

Latitude

40.8035

Longitude

-73.9378

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