BKREA has been retained on an exclusive basis to arrange for the sale of 1800 Park Avenue (“The Site”), a rare mixed-use development opportunity in the East Harlem neighborhood of Manhattan. The site is located on the entire westerly blockfront of Park Avenue between East 124th Street and East 125th Street. The site benefits from significant frontage, with 201.83’ along Park Avenue, 142.5’ facing East 124th Street, and 215’ facing East 125th Street. The site is currently demolished and has been excavated providing prospective developers with significant time and cost savings.

The impressive 36,078 sf lot is in the C4-7, 125th Street Special District, allowing for an as-of-right FAR of 9.0 for residential use and 10.0 for commercial use, translating to an as-of-right ZFA of 324,699 residential ZFA and 360,777 commercial ZFA. Additionally, ownership purchased the air rights from the adjacent property, 55 East 124th Street (Lot 24), allowing for an additional 127,982 ZFA. This creates an as-of-right total ZFA of 488,759. Prospective developers could further increase their density to approximately 595,731 ZFA through a combination of nondiscretionary bonuses such as aordable housing, arts space, and a fresh food store. Furthermore, developers could utilize additional ZFA through discretionary bonuses (MTA Transit Bonus) to boost their density to 682,317 ZFA. Current ownership has prepared massing studies and a zoning study, conducted by Fried Frank (Zoning Counsel), showcasing the dierent potential uses of the site. These documents are readily available in the data room.