East Harlem Development Site

This prime property is located in the heart of East Harlem along the East 106th Street corridor between Park and Lexington Avenues. The area offers strong Manhattan accessibility and is surrounded by residential communities, schools, nonprofit organizations, cultural destinations, and ongoing development. The location is served by the Lexington Avenue subway corridor, including the 6 train, as well as the M101, M102, and M103 bus routes along Lexington and Third Avenues. East Harlem is also supported by major neighborhood anchors including Metropolitan Hospital, the Mount Sinai medical ecosystem, Central Park, the Museum of the City of New York, El Museo del Barrio, and the East River waterfront.115–119 East 106th Street | East Harlem Institutional & Development Opportunity Douglas Elliman Commercial has been exclusively retained to offer for sale 115–119 East 106th Street, a rare institutional and redevelopment opportunity in the heart of East Harlem. The property consists of an approximately 6,728-square-foot lot improved with an approximately 19,445-square-foot religious/community facility. Zoned R7B, the property offers multiple potential paths for a purchaser, including continued institutional or community-facility use, healthcare, educational or nonprofit occupancy, and residential redevelopment. The site offers approximately 20,184 zoning square feet of conventional development potential at 3.0 FAR, with potential for approximately 26,239 zoning square feet at 3.90 FAR utilizing qualifying affordable-housing provisions under the Universal Affordability Preference (UAP), subject to purchaser verification and applicable requirements. The property's combination of an existing institutional facility, residential redevelopment potential and additional affordable-housing density creates a compelling opportunity for residential and affordable-housing developers, healthcare organizations, educational and community-service providers, nonprofit institutions, religious organizations and mission-driven developers. Located in an active East Harlem development corridor with convenient access to public transportation, healthcare institutions and neighborhood amenities, 115–119 East 106th Street represents a distinctive opportunity to acquire a substantial Manhattan property with both immediate-use and long-term redevelopment potential. Price Upon Request All dimensions, zoning calculations, development potential and permitted uses are approximate and subject to independent verification by prospective purchasers and their architects, attorneys and other consultants.