The Reel

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A blog for breaking sales and neighborhood real estate news.

A development site at 1900 Park Avenue, located on the corner of Park Avenue and East 129th Street in Manhattan’s East Harlem neighborhood, was sold in an all-cash transaction valued at $2,725,000.

The site contains approximately 8,993 square feet on a 99.92’ x 90’ lot.  With C8-3 zoning and FAR of 2.0, the site allows for approximately 17,986 buildable square feet as of right, and the sale price equates to approximately $152 per buildable square foot.

This property is in close proximity to 125th Street, Harlem’s most exciting and rapidly developing retail corridor.  It is easily accessible to all downtown and outer borough locations via the Lexington Avenue subway at 125th Street and Metro-North at 125th Street and Park Avenue.

“We had a lot of interest from developers, investors and users. This level of interest is a huge indication of the emerging nature of the neighborhood,” said Massey Knakal’s Lev Kimyagarov, who exclusively handled this transaction.

Click here for press release

Neighborhoods: Harlem