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    2197 3Rd Ave New York, NY 10035

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    For Sale
    $18,000,000

    421A-approved development opportunity with approved plans in Manhattan.

    Lot size:
    0.21 Acres

    Property Features for 2197 3Rd Ave

    General Information

    Lot size
    0.21 Acres

    Source: Asset Commercial Realty Group Agent Sadya Liberow

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    East Harlem Development Opportunity

    This property presents a 421A-approved development opportunity with approved plans in the heart of East Harlem, Manhattan. The property consists of a 9,300 square foot lot with approved plans for a total zoning floor area of 105,590 square feet as-of-right. 93,300 square feet are designated for residential use, 5,842 square feet for commercial use, and 1,447 square feet for a community facility. The property will be delivered with approved plans for a 141-unit mixed-use building, comprising 51 studio units, 63 one-bedroom units, and 25 two-bedroom units, as well as one commercial space and one community facility. The development will include a total of 34 affordable units. The property benefits from a 421A tax abatement, capping taxes on the completed project. It is ideally situated near the 3 Ave - 138 St [6] Subway Station, offering convenient access to Midtown and other parts of Manhattan.
    Location Intelligence

    Current Use by Public Records

    Land

    Suggested Use

    Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    New York
    County
    New York
    State
    New York
    Longitude
    -73.9380766
    Latitude
    40.800293

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    FAQs

    What type of property is this?
    Land - 421A-approved development opportunity with approved plans in Manhattan.
    Where is this land located?
    The property is located at 2197 3Rd Ave New York, NY.
    What is the asking price?
    The asking price for this property is $18,000,000.
    What are key features of this property?
    This property features: - Approved 421A development opportunity in East Harlem.; - Approved plans for a **141-unit mixed-use building (105,590 SF total).**; - Includes 34 affordable housing units.
    (347) 762-4055
    Request Owner's contact information
    2197 3Rd Ave New York, NY 10035
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    2197 3Rd Ave New York, NY 10035
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