Bridge Property Advisors has been exclusively retained to market for sale or ground lease 247 East 117th Street (the “Property or Site”), a development site located in the heart of East Harlem, one of the most dynamic and historically significant neighborhoods of New York City.

Located on the north side of East 117th Street, between Second and Third Avenues, the Property consists of an unimproved lot that is appr oximately 55’ x 75.67’ and has a footprint of 4,162 square feet.

The Site is split between several zoning districts. 45 feet of the lot width off of 2nd Avenue is in the Special East Harlem Corridor District and is zoned R9A with a C2-5 commercial overlay. The maximum residential FAR is 8.5. The commercial FAR is 2.0. The Special East Harlem Corridor District is also a Mandatory Inclusionary Housing (MIH) area. The remaining 10 feet of the lot width is z oned R7A with a FAR of 4.0.

The Site offers approximately 35,000 buildable square feet, as of right, allowing for a mixed-use residential building with commercial on the ground floor. Additionally, the Property qualifies for the 421( a) tax abatement.

The Property represents a prime development opportunity in a market with increasingly strong demand. The Site is ideal for a residential or mixed-use development or for an end-user to establish a presence in a highly desirable location.