$4,000,000
Updated 4 years ago
Sold

336 East 112th Street

East Harlem, Manhattan | Second Ave & First Ave

Development Site

$4,000,000
Lot Size50'x100'9"
ZoneR7A
Building TypeVacant Lot
RE Taxes$31,200

Building Amenities

  • Elevator

Property Description for 336 East 112th Street

INVICTUS Property Advisors has been retained on an exclusive basis for the sale of 336-338 East 112th Street, a 50' wide development site located in East Harlem, NY. The property will be delivered with DOB Approved Plans for a full amenity residential project. The project already has piling work completed, allowing a developer to build immediately upon acquisition. The subject property is located at the mid-point of two planned Q train subway stops at East 106th Street and East 116th Street and Second Avenue. The Metropolitan Transit Authority (MTA) recently announced that it reached a "major milestone" in its ongoing expansion project and the construction of new stations is expected to be completed by 2029. Currently, the site is located just a 0.4 mile walk (roughly 8 minutes) to the 6 subway line on East 110th Street and Lexington Avenue. 336-338 East 112th Street is surrounded by several newly completed condominium development projects - several of which have consistently achieved condo sell-outs in excess of $1,200 / SF. Additionally, rentals in the area for full amenity projects have surpassed $55 / SF. The site's flexible R7A zoning also allows for retail and community facility use. The subject property is in close proximity to the East River Plaza, 10-table Italian icon- Rao's, Patsy Pizzeria, and several parks and schools. The property is located in a coveted certified opportunity zone (census tract: 36061018000), allowing an investor to realize tax incentives as per IRS guidelines. Please inquire for full set of plans and complete due diligence package.

Listing History for 336 East 112th Street

Now
06/30/2021
$4,000,000
Sold and Closed by Josh Lipton
Invictus Property Advisors
2021

Building Details for 336 East 112th Street

OwnershipDevelopment Site
Building TypeVacant Lot
Learn More About the Building

Transit and Citi Bike

Subway

110 St
0.33 miles
116 St
0.39 miles

Citi Bike

1 Ave & E 110 St
0.09 miles
E 114 St & 1 Ave
0.12 miles

Contact Agents

Contact Agents

Josh Lipton
Invictus Property Advisors
Andrew Levine
Invictus 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: 80073TH