7-11 115Th St New York, NY 10029

Property Details for 7-11 115Th St

Property size

54,496 SF

Property type

Retail properties

Description

This exceptional East Harlem retail property at 7-11 East 115th Street presents a unique investment opportunity. Offered at $10,900,000, this property boasts a substantial 135 feet of frontage along the wide 115th Street, providing excellent visibility and accessibility. The lot size is 13,624 square feet, allowing for significant development potential. As-of-right buildable square footage is 54,496 square feet, expandable to 88,556 square feet with the inclusion of a community facility. Importantly, this property is free from Mandatory Inclusionary Housing (MIH) requirements. The efficient rectangular layout maximizes usable space. The property benefits from its location within a thriving condo market, with recent sales exceeding $1,200 per square foot, indicating strong market demand. Convenient public transportation is readily available, with close proximity to the 6 train on Lexington Avenue and the 2/3 trains on Malcolm X Boulevard. Numerous bus routes along Madison Avenue, 5th Avenue, and 116th Street provide easy access to various parts of the city. Finally, the property enjoys a short distance to both Central Park and Marcus Garvey Park, offering residents and visitors nearby green spaces. The permitted zoning is R7-2. This property is ideal for developers and investors seeking a high-return opportunity in a rapidly growing neighborhood.