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204 Lenox Ave - Development Opportunity
0.04 Acres of Residential Land Offered at £783,626 in New York, NY 10027
Investment Highlights
- Vacant lot poised for development, ideally suited for a mixed use building or a residential boutique condo project.
- 5,504 square feet of buildable space.
- Comparable condo sales at $1,000 PSF.
- Property is located in the opportunity zone.
Executive Summary
Prime Location: This development property represents a compelling investment opportunity. Harlem, celebrated for its historic charm and cultural vibrancy, is an appealing choice for astute investors. The property is near The Studio Museum in Harlem, just 0.4 miles away, and 0.7 miles from Teachers College Community School.
Appreciation Potential: This development opportunity is located in the heart of Harlem, Manhattan, within walking distance of Marcus Garvey Park for leisure activities, which is just 6 blocks away. Additionally, it is a 7-minute walk to Harlem Library and Malcolm Shabazz Harlem Market. Its prime location ensures convenient access to essential amenities and a thriving community.
Excellent Connectivity: Nestled in Harlem, this property provides seamless connectivity with easy access to highways. Transportation options include the nearby 116 St [2,3] Subway Station on Malcolm X Blvd, it’s about 0.2 miles which is 1 block from the property.
Proximity to Amenities: Experience unparalleled convenience at this strategically positioned multifamily property, offering discerning investors effortless access to local amenities and shops. Nearby gems include Blink Fitness just 0.3 mile away, Whole Foods Market, Chase Bank, near to II Caffe Latte which is an Italian restaurant, & Malcolm Pharmacy. Collectively, these amenities enhance the overall living experience, fostering a holistic and connected community.
Property Facts
| Price | £783,626 | Property Type | Land |
| Sale Type | Investment | Property Subtype | Residential |
| No. Lots | 1 | Total Lot Size | 0.04 AC |
| Price | £783,626 |
| Sale Type | Investment |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.04 AC |
1 Lot Available
Lot
| Price | £783,626 | Lot Size | 0.04 AC |
| Price Per AC | £21,334,175 |
| Price | £783,626 |
| Price Per AC | £21,334,175 |
| Lot Size | 0.04 AC |
The property is a vacant 20 feet wide lot with an R7-2/C1-4 zoning. There are a total of 5,504 buildable square feet allowing for either a mixed-use building or boutique condo project.
Description
The subject property is a vacant lot poised for development, ideally suited for a mixed use building or a residential boutique condo project. Comparable condo sales at $1,000 PSF. Total of 5,504 square feet of buildable space. Property is located near 116 St [2,3] Subway Station on Malcolm X Blvd.
PROPERTY TAXES
| Parcel Number | 1720-0003 | Improvements Assessment | £51,536 |
| Land Assessment | £16,590 | Total Assessment | £68,126 |
PROPERTY TAXES
zoning
| Zoning Code | R7-2, C1-4 (Medium Density Apartment District) |
| R7-2, C1-4 (Medium Density Apartment District) |
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Sadya Liberow -
Jonathan Aronov -
Asset CRG Advisors LLC
Presented by
204 Lenox Ave - Development Opportunity
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