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NEW YORK CITY- Cushman & Wakefield has been retained to arrange the sale of 2265-2267 Second Ave., two mixed-use developments totaling 8,000 square feet in Harlem. The properties are equipped with R9A zoning with a maximum FAR of 8.50 and 23,800 buildable square feet as-of-right. Jordan Sutton and Robert Shapiro of Cushman will represent the seller in all marketing efforts.
"This is truly a rare opportunity for an investor/developer to purchase and rehabilitate two free-market assets in one of the most vibrant, up-and-coming neighborhoods in Manhattan," said Sutton in a prepared statement. "Future ownership will benefit from the new Second Avenue subway and close proximity to the heavily foot trafficked 116th Street retail corridor."
The properties at 2265-2267 Second Ave. contain two vacant, four-story, free-market structures measuring 8,000 square feet on 116th and 117th Streets in the newly-rezoned section of East Harlem. The buildings are configured as two separate three-family homes with a commercial space underneath both. The property on 2265 Second Ave. has approved plans for three, three-bedroom apartments with one commercial store, providing an opportunity to the investor to begin work immediately upon closing.
Located within walking distance to the 116th Street subway station where the 6 train can be accessed, are multiple bus routes. The properties are located within proximity to major roadways including the FDR Drive, I-495 and The Grand Central Parkway.
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Mariah Brown
Mariah Brown is the New York Bureau Chief and Real Estate Reporter for GlobeSt.com, covering the New York Metro area, Northeast region and national real estate trends. She is responsible for producing multi-media content, including articles, podcasts and video. Before joining the GlobeSt team, she served as a New York Times fellow, reported for the Associated Press in New York and Philadelphia and several other New York City-based outlets.
