
Newmark Markets Prime Development Site in Harlem
Newmark has been retained to market the sale of a prime development site at 1975 Madison Ave. In Harlem. Located at Madison Avenue and 126th Street, the property is zoned for 80,942 square feet, totaling 101,714 gross square feet, and sits on a 15,166-square-foot, shovel-ready lot.
The turnkey asset is vested in the 421-a program and is located in an opportunity zone with approved plans. Executive managing director Ron Solarz represents ownership on the offering.
The development site marks one of the city’s last projects eligible under the now-expired 421-a affordable housing program. Additionally, it provides access to an investment market that faces continued housing supply constraints.
“1975 Madison Ave. presents one of the most ideal investment opportunities in today’s market,” said Solarz. “The asset’s location in a rapidly developing neighborhood with high demand, coupled with it being vested in 421-a with approved plans, creates an attractive development site opportunity.”
- ◦Sale/Acquisition
- ◦Development