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East Harlem Development Site Changes Hands
Alan Stenson, senior director of Manhattan-based investment sales brokerage firm Brax Realty, arranged the sale of a corner development site in East Harlem. The property, 1640 Park Ave., located on the northwest corner of East 116th Street, sold for $2,000,000.
Stenson represented both the buyer, The Affect Group and the seller, Great Empire Park Avenue. The property is currently a vacant lot on the northwest corner with 25’ of frontage on Park Avenue and 90 feet of frontage along East 116th Street.
Under current zoning, the property can be developed up to 22,500 buildable square feet.
- ◦Sale/Acquisition
- ◦Development
