Land For Sale
Marcus & Millichap is the exclusive sales broker for 60-62 West 116th Street, a two-story commercial building between Fifth Avenue and Malcolm X Boulevard in Central Harlem.
The subject property measures approximately 39 feet by 202 feet totaling 8,245 square feet and sits on a 50 foot by 202-foot C4-5X-zoned lot. In addition, the subject property has 42,210 square feet of additional development rights totaling 50,455 buildable square feet for the entire lot. The building is neither landmarked nor in an historic district.
The subject property contains two commercial units. The adjacent lots have a total of 125,625 square feet of additional development rights.
The subject property is located five blocks from Central Park and Columbia University. Nearby developments include 300 West 122nd Street (155 condominium units), the Sendero Verde (655 apartments) and 11 Hancock Place (71 condominium units). Average condominium units sell for $1,009 per square foot, and rental units average approximately $35 per square foot.