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453 W 162nd St - Development Opportunity 0.05 Acres of Residential Land Offered at $1,658,999 CAD in New York, NY 10032
INVESTMENT HIGHLIGHTS
- Development Opportunity located in Washington Heights.
- Proposed plans for a twelve-unit elevator multifamily building consisting of eleven two-bedroom units and one one-bedroom apartment.
- 9,224 square feet as of right buildable square feet.
- Property is located in the opportunity zone.
EXECUTIVE SUMMARY
Summary: The subject property is an exceptional vacant lot poised for redevelopment, ideally suited for residential purposes. With an as of right total of 9,224 square feet of buildable space. The current ownership has proposed plans in for a twelve-unit elevator multifamily building featuring eleven two-bedroom units and one one-bedroom apartment.
Prime Location: This development property represents a compelling investment opportunity in Washington Heights, celebrated for its historic charm and cultural vibrancy. It is an appealing choice for astute investors, being just a 2-minute walk to the Morris-Jumel Mansion, a historical museum, and only 0.5 miles from Columbia University.
Appreciation Potential: Introducing an exceptional development opportunity strategically positioned in the dynamic heart of Washington Heights, Manhattan. This prime site boasts immediate access to essential amenities, including a supermarket just 400 feet away and the Washington Heights library. Located adjacent to the Morris-Jumel Community Garden, protected under the 2002 Settlement negotiated by the Bloomberg administration, this prime location ensures the lot enjoys abundant natural light and ventilation.
Excellent Connectivity: the property is located just half a block from the C subway line at West 163rd Street and Saint Nicholas Avenue, and 155 St (A, C) subway station. this property offers unparalleled transportation convenience.
Proximity to Amenities: Experience unparalleled convenience at this strategically positioned multifamily property, offering discerning investors effortless access to local amenities and shops. Nearby gems include the Washington Heights Library for a quiet retreat, City Drug & Surgical just a 2-minute walk away from the property, Super Foodtown of Washington Heights, C Town Supermarkets, Planet Fitness, TD Bank, McDonald’s, and Dunkin'. Collectively, these amenities enhance the overall living experience, fostering a holistic and connected community.
Prime Location: This development property represents a compelling investment opportunity in Washington Heights, celebrated for its historic charm and cultural vibrancy. It is an appealing choice for astute investors, being just a 2-minute walk to the Morris-Jumel Mansion, a historical museum, and only 0.5 miles from Columbia University.
Appreciation Potential: Introducing an exceptional development opportunity strategically positioned in the dynamic heart of Washington Heights, Manhattan. This prime site boasts immediate access to essential amenities, including a supermarket just 400 feet away and the Washington Heights library. Located adjacent to the Morris-Jumel Community Garden, protected under the 2002 Settlement negotiated by the Bloomberg administration, this prime location ensures the lot enjoys abundant natural light and ventilation.
Excellent Connectivity: the property is located just half a block from the C subway line at West 163rd Street and Saint Nicholas Avenue, and 155 St (A, C) subway station. this property offers unparalleled transportation convenience.
Proximity to Amenities: Experience unparalleled convenience at this strategically positioned multifamily property, offering discerning investors effortless access to local amenities and shops. Nearby gems include the Washington Heights Library for a quiet retreat, City Drug & Surgical just a 2-minute walk away from the property, Super Foodtown of Washington Heights, C Town Supermarkets, Planet Fitness, TD Bank, McDonald’s, and Dunkin'. Collectively, these amenities enhance the overall living experience, fostering a holistic and connected community.
PROPERTY FACTS
| Price | $1,658,999 CAD | Property Subtype | Residential |
| Sale Type | Investment | Proposed Use | Multifamily |
| Sale Condition | Redevelopment Project | Total Lot Size | 0.05 AC |
| No. Lots | 1 | Opportunity Zone |
Yes
|
| Property Type | Land | ||
| Zoning | R7-2 - R7 Zoning is considered medium density residential. It is broken into 2 basic zoning districts R7-1 and R7-2. R7-2 has less parking requirements. | ||
| Price | $1,658,999 CAD |
| Sale Type | Investment |
| Sale Condition | Redevelopment Project |
| No. Lots | 1 |
| Property Type | Land |
| Property Subtype | Residential |
| Proposed Use | Multifamily |
| Total Lot Size | 0.05 AC |
| Opportunity Zone |
Yes |
| Zoning | R7-2 - R7 Zoning is considered medium density residential. It is broken into 2 basic zoning districts R7-1 and R7-2. R7-2 has less parking requirements. |
1 LOT AVAILABLE
Lot
| Price | $1,658,999 CAD | Lot Size | 0.05 AC |
| Price Per AC | $31,338,522.05 CAD |
| Price | $1,658,999 CAD |
| Price Per AC | $31,338,522.05 CAD |
| Lot Size | 0.05 AC |
The subject property is an exceptional vacant lot poised for development, ideally suited for residential purposes. With a generous 9,224 square feet of buildable space.
DESCRIPTION
The subject property is an exceptional vacant lot poised for redevelopment, ideally suited for residential purposes. With a generous 9,224 square feet of buildable space. The current ownership has advanced plans in the final stages of DOB approval for a twelve-unit elevator multifamily building. This development features eleven two-bedroom units and one one-bedroom apartment.
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Walk Score®
Walker's Paradise (92)
Transit Score®
Rider's Paradise (100)
Bike Score®
Very Bikeable (83)
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453 W 162nd St - Development Opportunity
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