421A Approved Development Site at 2197 3rd Ave New York

Asset CRG Advisors has been exclusively retained to market 2197 3rd Ave, New York, NY 10035, a 421a-approved development opportunity in the heart of East Harlem, Manhattan.

The property consists of a 9,300 SF lot with approved plans for a 105,590 buildable SF as-of-right mixed-use building. The zoning breakdown includes 98,300 SF for residential use, 5,842 SF for commercial use, and 1,447 SF for a community facility.

Approved plans call for 139 residential units, featuring 51 studio apartments, 63 one-bedroom apartments, and 25 two-bedroom apartments. The project also includes a 5,842 SF commercial space and a 1,447 SF community facility. A total of 34 units will be designated as affordable housing.

The property benefits from a 421a tax abatement, offeri significant tax savings for investor

Located near the 3 Ave - 138 St [6] Subway Station, the site provides excellent connectivity to Midtown and other parts of Manhattan.

This shovel-ready project presents a prime opportunity for developers and investors to capitalize on the growing demand for residential projects in East Harlem.