81 110Th StNew York, NY 10029

Property Details for 81 110Th St

Year built

1957

Lot size

0.05 AC

Property size (Sq ft)

2,000 SF

Zone code

R7-2

Property type

Investment properties

Property subtype

Retail residential properties

APN

01616-0033

APU

16160033

Description

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.

• CAP approach

  CAP return

  Valuation

  6%

  $410,018

  6.5%

  $378,478

  7%

  $351,444

• Comparable approach

  Method

  Valuation

  Relative Method

  $405,046

  Geo Method

  $405,046

• Alternative Use

  Use

  Valuation

  Residential

  $378,478

  Hospitality

  $346,684

  Educational

  $288,437

  Medical

  $298,357

  Retail

  $448,680

Location Insight

City

New York

County

New York

State

New York

Latitude

40.7959

Longitude

-73.9463

CBSA code

35620

CBSA name

NEW YORK-NORTHERN NEW JERSEY-LONG ISLAND, NY-NJ-PA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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