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1531 York Ave
New York, NY 10028
1527-1531 York Avenue · Multifamily Property For Sale
Investment Highlights
- Desirable Yorkville location
- UAP bonus allows for additional 7,164 SF of floor area
- Ability to purchase off-site certificates + neighboring air rights to lower basis
- Corner development site with approximately 121 feet of wraparound frontage
- Strong demand for boutique condominium sites in Manhattan
Executive Summary
Avison Young, as exclusive agent, is pleased to offer for sale a development site located at 1527-1531 York Avenue (the “Site”) on the southwest corner of York Avenue and East 81st Street in Yorkville. The combined lots total 3,582 SF and boast approximately 121 feet of wraparound frontage on East 81st Street and York Avenue. The Site lies within an R10 / C1-5 zoning district, offering 10.00x FAR as-of-right and up to 12.00x FAR with the Universal Affordability Program (UAP) bonus. The total buildable square footage of the site ranges from 35,820 SF as-of-right to 42,984 SF with the bonus.z
Currently, the adjacent lots are improved with two small walk-up properties. 1527 York Avenue is a 2,516 SF 3-story mixed-use property with a ground floor retail space occupied by Sapphire Nails & Spa. 1531 York Avenue is a 5,250 SF mixes-use property with two ground floor retail tenants, OM Indian Restaurant and a small moving company. All of the retail tenants have demolition/termination clauses in their leases. The residential components of both buildings will be delivered free of any occupied rent regulated tenants.
Currently, the adjacent lots are improved with two small walk-up properties. 1527 York Avenue is a 2,516 SF 3-story mixed-use property with a ground floor retail space occupied by Sapphire Nails & Spa. 1531 York Avenue is a 5,250 SF mixes-use property with two ground floor retail tenants, OM Indian Restaurant and a small moving company. All of the retail tenants have demolition/termination clauses in their leases. The residential components of both buildings will be delivered free of any occupied rent regulated tenants.
Property Facts
| Price / SF | $2,587 CAD / SF | Individually For Sale | 0 |
| Sale Type | Investment | Total Building Size | 9,476 SF |
| Status | Active | Total Land Area | 0.08 AC |
| Number of Properties | 2 |
| Price / SF | $2,587 CAD / SF |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 9,476 SF |
| Total Land Area | 0.08 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 1531 York Ave, New York, NY 10028 | Multifamily | 6,960 SF | 1910 | - |
| 1527 York Ave, New York, NY 10028 | Multifamily | 2,516 SF | 1915 | - |
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