$13,400,000
Updated 7 years ago
Sold

1834 Third Ave

East Harlem, Manhattan | East 102nd Street & East 101st Street

24,174 Square FeetDevelopment Site

$13,400,000
floors3
Lot Size80'9"x100'
ZoneR8A
Building TypeLow-Rise
RE Taxes$70,118
Price Per SF
$554

Property Description for 1834 Third Ave

Ariel Property Advisors presents 1834 Third Avenue, a prime mixed-use development opportunity with 180’ of wraparound retail frontage located on the northwest corner of Third Avenue and East 101st Street in Manhattan’s East Harlem neighborhood. R8A/C1-5 zoning provides approximately 48,714 buildable sq. ft. as-of-right for a mixed-use property and 52,598 buildable square feet with a community facility bonus. The property is currently improved by a 3-story religious facility and an adjoining rectory, both of which will be delivered vacant. The property’s footprint, corner location, zoning, and size make it an appealing opportunity for several different buyers. Residential developers can build a sizeable structure with significant amenity space and retail in an area that has a few new developments in the pipeline. Steps away from several charter schools, the site is an ideal location for schools seeking expansion or dormitory space. Lastly, its close proximity to both Mount Sinai Hospital and Metropolitan Hospital make it an excellent opportunity to build supportive medical-office, life science or senior housing facilities. 1834 Third Avenue is surrounded by a host of new construction residential properties that are pushing new pricing records in the area. These include The Cereza at 1790 Third Avenue, North Park Tower at 1399 Park Avenue, and the upcoming AvalonBay project at Second Avenue and East 96th Street. Central Park and Thomas Jefferson Park are both within walking distance. Convenient access to downtown and outer borough destinations is provided by the 6 train at Lexington at 103rd Street, the Second Avenue Q train at East 96th Street, the FDR Drive, and several local bus lines. With its prime corner location, unique scale and multiple potential uses in a rapidly appreciating neighborhood, 1834 Third Avenue stands out as an outstanding Manhattan development opportunity.

Listing History for 1834 Third Ave

Now
07/09/2019
Sold and Closed by Michael A. Tortorici
Ariel Property Advisors
2019

Building Details for 1834 Third Ave

OwnershipDevelopment Site
Building TypeLow-Rise
AgePost-War
AccessWalk-up
Year Built1953
Floors3
Learn More About the Building

Transit and Citi Bike

Subway

103 St
0.13 miles
96 St
0.3 miles
96 St
0.3 miles
110 St
0.46 miles

Citi Bike

3 Ave & E 100 St
0.07 miles
E 103 St & Lexington Ave
0.11 miles

Contact Agents

Contact Agents

Michael Tortorici
Ariel Property Advisors
Victor Sozio
Ariel Property Advisors
Marko Agbaba
Ariel Property Advisors

East Harlem | Manhattan

Quick Profile

Take a stroll through East Harlem and you’ll find a vibrant, culturally diverse neighborhood, which is evident no matter which direction you look. East Harlem is also known as Spanish Harlem, El Barrio, and “The Neighborhood,” as it is home to a population that represents Hispanic immigrants, primarily from Puerto Rico, as well as from Mexico, Cuba, and the Dominican Republic. These immigrants brought their cultures with them, in the form of music, dance, art, and food. During the day, you’ll find the neighborhood filled with opportunities to experience Latin culture. Both the salsa dance craze and the graffiti style of art were born right in East Harlem. There are many great places to sample authentic cuisine, from Rao’s (where you cannot get a table unless you inherit one, and any reservations must be booked years in advance) to sidewalk carts, where you can get the best “street meat” to be had in NYC.

In East Harlem you’ll find a number of innovative educational opportunities in the form of specialized and charter schools that are considered top-notch. Many of these have very competitive admissions criteria and offer curricula that focus on creativity and social awareness. Such schools are a draw for young families that want to raise their children in an educational system that goes above and beyond the standard.

The vibe of East Harlem is one of community and neighbors that interact with each other routinely. There are many small, family-owned and -operated businesses and restaurants that have been neighborhood anchors for years. As you stroll through East Harlem, you will be immersed in sights, sounds and flavors that are straight from Latin American or the Caribbean islands, sometimes both at once. You can sample Puerto Rican-inspired plantain mofongo, which is mashed plantains with garlic and pork rinds, from local sidewalk carts. Or if it is a hot summer’s day, you might enjoy a Mexican-inspired licuado, which is a blended drink similar to a smoothie, made with milk, fruit, and ice. Sometimes, spices, citrus juices, and sugar are added. Although you will find an abundance of authentic cuisine and music no matter where you look in East Harlem.

Prefer to cook at home? East River Plaza offers Target, Costco, and Aldi stores, all of which offer fresh food at reasonable prices.

East Harlem housing consists of more affordable walk-ups, low-rise pre-war buildings, brownstones, and is dominated housing complexes. You can find some comparatively large apartments at reasonable price points, and even some rent-stabilized apartments. Luxury co-op and condo units are being built on the southern boundary of East Harlem. 

All information furnished regarding property for sale, rental or financing is from sources deemed reliable, but no warranty or representation is made as to the accuracy thereof and same is submitted subject to errors, omissions, change of price, rental or other conditions, prior sale, lease or financing or withdrawal without notice. All dimensions are approximate. For exact dimensions, you must hire your own architect or engineer.
OLR ID: 74657TH