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188 E 135th St - BID DEADLINE JULY 10TH 0.58 Acres of Commercial Land Offered at $35,505,250 CAD in Bronx, NY 10451
Executive Summary
BID DEADLINE FRIDAY, JULY 10TH
RIPCO REAL ESTATE has been retained on an exclusive basis to arrange for the sale of 188 EAST 135TH STREET, a waterfront development site located in the Mott Haven neighborhood of the Bronx. 188 East 135th Street is a premier 421a qualified, waterfront development opportunity located in the Mott Haven neighborhood of the Bronx. The property spans 25,464 SF and is zoned R7-2, C2-4, (HRW), offering a maximum FAR of 4, which translates to 176,588 buildable square feet (including obtained air rights). This site is ideal for a variety of uses including residential, mixed-use, and community facilities. It is also situated within a Qualified Opportunity Zone, providing potential tax benefits for developers as well as being enrolled in the Brownfield Cleanup Program (BCP) and is entitled to its credits. The property features 143 feet of frontage along East 135th Street. Its strategic location off the Major Deegan Expressway (I-87) offers easy access to Midtown Manhattan, with Third and Willis Avenue Bridges and the 2 4 5 and 6 subway lines just steps away, making it a highly desirable site for development. The area is witnessing a surge in development activity, with over 9.5 million square feet and 7,300 residential units coming online, driven by prominent developers such as Brookfield, RXR, and L+M Development. This property provides an excellent opportunity for investors and developers to capitalize on the growing demand for mixed-use developments in one of New York City’s most active development zones. With plans for a 238,093 gross square foot, 25-story, 236-unit mixed-use building utilizing available bonuses, the site will enable a developer to create a ground-up, high-rise, mixed-use project on the water with extensive views of the NYC skyline.
RIPCO REAL ESTATE has been retained on an exclusive basis to arrange for the sale of 188 EAST 135TH STREET, a waterfront development site located in the Mott Haven neighborhood of the Bronx. 188 East 135th Street is a premier 421a qualified, waterfront development opportunity located in the Mott Haven neighborhood of the Bronx. The property spans 25,464 SF and is zoned R7-2, C2-4, (HRW), offering a maximum FAR of 4, which translates to 176,588 buildable square feet (including obtained air rights). This site is ideal for a variety of uses including residential, mixed-use, and community facilities. It is also situated within a Qualified Opportunity Zone, providing potential tax benefits for developers as well as being enrolled in the Brownfield Cleanup Program (BCP) and is entitled to its credits. The property features 143 feet of frontage along East 135th Street. Its strategic location off the Major Deegan Expressway (I-87) offers easy access to Midtown Manhattan, with Third and Willis Avenue Bridges and the 2 4 5 and 6 subway lines just steps away, making it a highly desirable site for development. The area is witnessing a surge in development activity, with over 9.5 million square feet and 7,300 residential units coming online, driven by prominent developers such as Brookfield, RXR, and L+M Development. This property provides an excellent opportunity for investors and developers to capitalize on the growing demand for mixed-use developments in one of New York City’s most active development zones. With plans for a 238,093 gross square foot, 25-story, 236-unit mixed-use building utilizing available bonuses, the site will enable a developer to create a ground-up, high-rise, mixed-use project on the water with extensive views of the NYC skyline.
Property Facts
| Price | $35,505,250 CAD | Property Subtype | Commercial |
| Sale Type | Investment | Proposed Use | Apartment Units |
| Sale Condition | Redevelopment Project | Total Lot Size | 0.58 AC |
| No. Lots | 1 | Opportunity Zone |
Yes
|
| Property Type | Land | ||
| Zoning | R7-2 | ||
| Price | $35,505,250 CAD |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Commercial |
| Proposed Use | Apartment Units |
| Total Lot Size | 0.58 AC |
| Opportunity Zone |
Yes |
| Zoning | R7-2 |
1 Lot Available
Lot
| Price | $35,505,250 CAD | Lot Size | 0.58 AC |
| Price Per AC | $60,737,068.08 CAD |
| Price | $35,505,250 CAD |
| Price Per AC | $60,737,068.08 CAD |
| Lot Size | 0.58 AC |
Block / Lot: 2323 / 13 Located on the south side of East 135th St between Exterior St and 3rd Ave Assessment (26/27) $304,002 Tax Rate (26/27) 10.848% Property Tax (26/27) $32,978 Tax Class 4
Moderately walkable
70/100
Exceptionally drivable
90/100
Exceptional public transit
100/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 02323-0013 | Improvements Assessment | $0 CAD |
| Land Assessment | $431,747 CAD | Total Assessment | $431,747 CAD |
Property Taxes
Parcel Number
02323-0013
Land Assessment
$431,747 CAD
Improvements Assessment
$0 CAD
Total Assessment
$431,747 CAD
Contacts
-
Mitchel Flaherty -
Brian Whelan -
Jonathan Auerbach -
Jake Shapiro -
Luke Stone -
RIPCO Real Estate
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188 E 135th St - BID DEADLINE JULY 10TH
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