Rare Opportunity to Develop into Condos Comes with Approved DOB Plans for Condos.
A rare opportunity to develop one of the last remaining buildings of it's kind in this neighborhood, East Harlem. A nineteenth century loft building that is being sold "as is" with DOB approved plans in place to convert into condominium apartments. These apartments would be comprised as follows: three studios, three one bedrooms, eight two bedrooms and penthouses on the top floor with their own private outdoor space and a common roof deck for the unit owners and their guests. Currently measuring 25,160 square feet with a lot size of 50 x 100.92 (approx.) and is heated by a # 2 oil-fired boilers, which are supplied by two tanks measuring 1,080 & 1,500 gallons. The building is sprinklered and is sub-metered for electric. The current ceilings are extraordinarily high allowing for an abundance of natural light to flow though the large floor plates. Currently has a working elevator which services all floors and two internal staircases.
The building is not burdened by leases and will be attractive to a variety of purchasers including residential developers, commercial investors, or end-users who wish to rent it out as an income producing property. This building is an incredible investment and it will be soon accessible by the Second Avenue subway line, scheduled to open on or before December 31, 2016 (MTA).