228 122Nd StNew York, NY 10035

Property Details for 228 122Nd St

Year built

1900

Lot size

0.06 AC

Property size (Sq ft)

6,569 SF

Zone code

R7A

Property type

Office properties

Property subtype

Office buildings

APN

01786-0037

APU

17860037

Description

This exceptional East Harlem property offers 84,768 buildable square feet on a 21,192 square foot lot, zoned R7A. Located at 228-242 East 122nd Street, New York, NY 10035, this significant parcel boasts 210 feet of frontage along East 122nd Street. Its size makes it ideal for large-scale development, such as a residential, educational, or medical facility. The property's unique scale also presents potential for rezoning or variance. Benefitting from Opportunity Zone tax advantages, this location is further enhanced by proximity to recent developments like One East Harlem and the Proton Center, as well as established attractions including the East River Plaza, Hunter School of Social Work, Thomas Jefferson Park, and renowned restaurants. Excellent transit access is provided by nearby 4, 5, and 6 subway lines and the Metro-North 125th Street Station. This is a rare opportunity to acquire one of the largest vacant parcels in Northern Manhattan.

• CAP approach

  CAP return

  Valuation

  6%

  $1,086,052

  6.5%

  $1,002,509

  7%

  $930,902

• Comparable approach

  Method

  Valuation

  Relative Method

  $858,306

  Geo Method

  $858,306

• Alternative Use

  Use

  Valuation

  Residential

  $1,243,112

  Hospitality

  $1,138,684

  Educational

  $947,371

  Medical

  $979,953

  Retail

  $1,473,689

Location Insight

City

New York

County

New York

State

New York

Latitude

40.8011

Longitude

-73.9362

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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