The Real Deal New York

Rare UES development site on block for $21.5M

March 12, 2012 04:00PM

Stephen Powers of Denham Wolf

A prime development site on the Upper East Side has hit the market for $21.5 million, Crain’s reported.

The lot, at 115 East 97th Street, between Lexington and Park avenues, is over 15,000 square feet and boasts about 110,000 buildable feet. Under the current zoning, a school, medical facility, student housing, or a senior center could be built on the site, which is owned by Kenbar Management and is being marketed by Denham Wolf.

“It’s a great opportunity for a non-profit,” said Stephen Powers, a broker with Denham. “It’s one of the last development sites in the area.” [Crain's]

  • KaKaw

    Best suited for student housing. Mt Sinai 1 block away. with approx 110,000 sq ft, you can get over 250 rooms x approx $1800 rent = $450,000 GP/month.

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