245 E 123rd St 0.06 Acres of Commercial Land Offered at $1,659,000 CAD in New York, NY 10035

Prime Development Opportunity in East Harlem – 8,175 SF Buildable Lot For Sale by Owner – Asking Price: $1.3M This strategically located lot in East Harlem offers 8,175 buildable square feet, ideally positioned near local shops, amenities, and public transportation. A rare opportunity for developers or investors seeking to capitalize on a growing neighborhood. Zoning: R7B – Contextual Residential District This lot falls within an R7B zoning district, which encourages mid-rise residential development under the Quality Housing Program. Key zoning features include: FAR (Floor Area Ratio): 3.0 Building Height: Base height must range between 40 and 60 feet before setback; maximum height is 75 feet Building Type: Typically supports six- to seven-story apartment buildings Street Wall Requirements: For lots up to 50 feet wide: front wall must align with one adjacent building and not extend beyond the other For lots 50 feet or wider: front wall must not be closer to the street than adjacent buildings Maximum front wall setback: 15 feet Curb Cuts: Prohibited on frontages less than 40 feet to preserve streetscape Parking Requirements: Off-street parking not permitted in front of the building Parking required for 50% of residential units Amenities: Interior amenities for residents are required under the Quality Housing Program This zoning framework allows for a balanced blend of density and neighborhood character, making it ideal for residential development.