Land

247 East 117th Street

247 E 117th St247 East 117th St, New York, NY, 10035-4814, US

247 East 117th Street_Property for Sale

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Asset description

JLL has been exclusively retained to arrange for the sale of 247 East 117th Street, an incredible 55’ wide residential development opportunity in East Harlem. Located on the north side of East 117th Street between Second and Third Avenues, the fully vacant, unencumbered site has fully approved DOB plans and is vested into the Affordable NY Housing Program which will allow the project to benefit from a 3 year tax abatement during construction plus a 35 year tax abatement post construction. The approved plans call for a 14 story, 41,559 GSF development featuring 48 residential units with a commercial component on the ground floor.

Attributes

Land area net
0.10 acres (4,160 sf)

Investment highlights

  • Fully Approved Plans and Vested into the Affordable NY Program (3 Year Tax Abatement During Construction, Plus 35 Year Tax Abatement Post Construction)
  • Boutique Design (48 Units) with Diverse Apartment Mix and High Efficiencies to Maximize Rentable SF
  • Ceiling Heights of 10’ Throughout
  • Ideal Floorplates with 55’ of Frontage Along East 117th Street
  • Excellent Light & Air Exposure to the South
  • Located in One of the Fastest Growing Neighborhoods in Harlem

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Last updated
Oct 7, 2022