498 W 130th Street

498 West 130th Street New York, NY 10027

New York
FOR SALE
Property Type:
Residential Land Development
Amount:
$599,000
Last Verified:
Sep 24, 2024

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Highlights

  • Prime vacant lot in the vibrant Harlem neighborhood with 1,245 sq. ft. of lot space and 4,980 buildable sq. ft.
  • Ideal for a luxury 4-story two-family development, catering to high-demand housing.
  • Resale value projected between $3,200,000 and $3,600,000, offering strong investment potential.
  • Conveniently located within walking distance of the 125th Street [1] Train Station.
  • Close to 135th Street [A], [B], [C], [D] Train Station, enhancing access to transit and local amenities.

Description

Unlock the potential of this prime vacant lot at 498 W 130th Street in Harlem, featuring 1,245 sq. ft. of lot space and 4,980 buildable sq. ft. This property is ideally suited for a luxury 4-story two-family development, catering to the growing demand for high-quality housing in the area. With a projected resale value of $3,200,000 to $3,600,000, this opportunity offers strong investment potential. Conveniently located within walking distance of the 125th Street [1] Train Station and in proximity to the 135th Street [A], [B], [C], [D] Train Station, the site ensures easy access to public transit and local amenities, making it an ideal choice for savvy investors and developers.

Situated in the heart of Harlem, 498 W 130th Street offers an excellent urban living experience, surrounded by a rich cultural history and a diverse community. The neighborhood boasts an array of dining, shopping, and entertainment options, making it a vibrant place to live and invest. With convenient access to public transit, including the nearby 125th Street [1] Train Station and 135th Street [A], [B], [C], [D] Train Station, residents enjoy seamless connectivity to the rest of Manhattan and beyond. The area is also home to various parks and recreational spaces, enhancing the overall appeal for future residents.

Lot Size: 0.03 acres

Map of 498 West 130th Street, New York, NY, 10027

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.