April 26, 2024 – Robert Aaron of Horvath & Tremblay has successfully completed the sale of 2148-2150 3RD Avenue and 183 East 117th Street in New York, New York. Horvath & Tremblay exclusively represented the seller and procured the buyer. The desirable cash-flowing redevelopment site sold for $5,500,000.
2148-2150 3rd Avenue & 183 East 117th Street in New York, New York presented the rare opportunity to acquire a large development site with frontage along two prominent streets. The 3rd Avenue Property is improved with a two-story, 9,875 square foot building. The parcel is 48 feet by 135 feet (irregular shaped lot) and contains 0.15-acres of land. The Property offers 48 feet of frontage along 3rd Avenue (in between E 117th Street and E 118th Street). 183 E 117th Street is a vacant parcel of land. The parcel is 19 feet by 90 feet (irregular shaped lot) and contains 0.04-acres of land. The Property offers 19 feet of frontage along E 117th Street. The two Properties conjoin in the rear. The vacant Properties offer developers the rare opportunity to purchase a large development site with 48 feet of frontage on Third Avenue and 19 feet of frontage on East 117th Street that allows for 64,350 buildable square feet “As of Right” in the East Harlem neighborhood of Manhattan, New York. The Properties are well-located in a densely populated mixed-use (commercial and residential) neighborhood with many walkable amenities, including public transportation (Subway, Metro North, and Municipal Bus), Central Park, Randall’s Island, and Marcus Garvey Park and area retailers, restaurants, and bars. The Properties are in the East Harlem neighborhood of Manhattan and offer convenient access to FDR Drive, Harlem River Drive, the RFK Bridge, and Interstates 87 and 278.
Horvath and Tremblay is one of the most active and successful Investment Real Estate Brokerage firms in New England. Their advisors specialize in the sale of apartment buildings, mixed-use properties, and development projects. They have experience successfully structuring portfolio sales and 1031 exchanges. They have a dedicated buy side desk that provides real time inventory and market data to each individual client placing capital or fulfilling a 1031 exchange requirement. The firm is dedicated to being the best source of information and expertise in the marketplace for private investors, developers, institutions, and industry professionals.