5051 - 5055 BROADWAY

For Sale - Manhattan - Inwood

$5,750,000

Net Operating Income: Contact Agent

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Key Details

Property Type
Land
Neighborhood
Inwood
Property Dimensions
0.0 x 0.0
Property Area
0 sq.ft.
Total Units:
N/A
Stories:
N/A
NOI
Contact Agent
Price
$5,750,000
Price Per Unit
$5,750,000
Cap Rate
-%

Listing Description

B6 Real Estate Advisors is pleased to announce that it has been retained on an exclusive basis to arrange for the sale of 5051-5055 Broadway, located between West 215th and 216th Streets in Inwood. This 7,500 SF shovel-ready site includes 75 feet of frontage on Broadway, one of Northern Manhattan’s busiest retail corridors. The subject property is zoned R7D/C2-4, allowing for a 5.60 FAR which equates to 42,000 SF of potential residential and commercial development when utilizing the Mandatory Inclusionary Housing component.

Ideally located directly across the street from the 215th Street station, the property enjoys exceptionally easy access to Midtown Manhattan via the 1 train, A train, or Metro-North Railroad (Marble Hill). With over $500 million of investment earmarked from both public and private sector funds, this recently rezoned neighborhood of Inwood is primed for growth from new housing, a variety of mixed-use development projects, the creation of additional parks, and improved waterfront access.

INVESTMENT HIGHLIGHTS
• Potential to build 42,000 SF of residential development with a commercial overlay (R7-D/C2-4 zoning)
• Attractive site footprint with 75’ of lot frontage and 100’ of lot depth, located on Broadway
• Shovel-ready site, requiring no demolition or abatement for future project
• Parking requirements waived due to Mandatory Inclusionary Housing (MIH) component
• Multiple transportation options easily available, including the 1 train at 215th Street station, A train at 207th Street station, and Metro-North Railroad in Marble Hill, all providing direct access into Midtown Manhattan
• Dynamic range of nearby demand drivers, including Columbia University’s Baker Athletics Complex, New York Presbyterian’s Allen Hospital, Inwood Hill Park, and Isham Park

Property Details

Block/Lot:
2243/255
Lot Dimensions
75.0 x 100.0
Lot Area
7,500 sq.ft
Zoning:
C8-3
FAR as Built:
0.0
Max FAR:
6.5
D.J. JohnstonB6 Real Estate Advisors
Contact Agent View Setup

Sales & Transactions

AddressSale PriceSale DateProperty Type
106-108 TERRACE VIEW AVENUE$250,00008/31/2016Land