Harlem development site asking $12M

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2000 Madison Avenue asking $12 million

Harlem development location, location. location, is booming. Gold Coast land, 100 ft. x 35 ft. development site with 100 feet fronting on Madison Avenue at the corner of 127th Street. Site is three blocks from the new New York Proton Center (a $300 million+ cancer treatment facility built by Memorial Sloan Kettering and Mt. Sinai) which opens in July 2020.

Sale price is $12,000,000.
Development potential: 14,000 SFB plus bonus, plus 3,500 SFB community, plus bonus on a Wide avenue and Corner,  FAR7A/2, FAR is 4.0 with  bonuses, and the owner believes that adjacent air rights may be available.

It’s possible developer can build 30 rental apartments. According to information, developer can get 421-a  35-year real estate tax abatement,  70/30. The 30 percent is almost market rental. Location ideally suited for residential. Sale by owner. Contact broker Mylene Liggett at mylene@liggettrealtors.com or (917) 446-5101.