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$2,068,812
List Price: $2,095,000
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502 East 118th Street
Townhouse in East Harlem •  building info
5bd • 3ba • 3,232ft² $648 per ft²
Buy with Yoreevo

$2,068,812

List Price

$2,095,000

Key Details
Days on market
11
Last price change
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Estimated payment
$12,183/mo
Taxes
$265/mo
Maintenance
N/A
Description
Rare Townhouse & Garage Combination in East Harlem - Prime Development Potential A truly unique find in East Harlem, this three-family townhouse with an attached garage offers an exceptional opportunity for developers, investors, and end-users alike. With approximately 12,164 buildable square feet with additional bonus opportunity, this property boasts 45 feet of frontage on East 118th Street, making it a rare and highly desirable asset in one of Manhattan's fastest-growing neighborhoods. The townhouse, measuring approx. 17' 10 feet wide by 44' 11 feet deep, offers expansive living space with incredible potential for reconfiguration, whether as a rental conversion, single-family residence, or boutique condominium development. The possibilities for the yard space that measures 50' 6 X 25' are endless. Adjacent to the home, the garage, spanning 25 feet wide by 50 feet deep, presents exciting possibilities for commercial or mixed-use development. This unique property is zoned for both residential and commercial uses, creating flexibility for a wide range of potential projects. Whether you envision a luxury rental building, a mixed-use development, or a unique live-work space, this site provides the perfect foundation to bring your vision to life. Located on a charming cobble stone street where two one way streets meet, the block has the feel of a private cul-de-sac and emanates calm and peace. The property is just one block from East River Plaza, home to Costco, Marshalls, Aldi, and other major retailers. Transportation is seamless, with the 116th Street crosstown bus, the 6 train at 116th Street, and easy access to the FDR and nearby biking trail. The expansion of the Q train offers more future upside here. An additional benefit is the proximity to an expanding selection of dining, shopping, and cultural destinations. The neighborhood is in the midst of a major revitalization, with new residential developments, infrastructure improvements, and cultural initiatives reshaping the landscape. City-led efforts to create affordable housing, green spaces, and community-driven projects such as the upcoming Afro-Latin Music and Arts Center and sustainable housing initiatives like Sendero Verde underscore the area's transformation into a vibrant, thriving community. The ability to deliver the property vacant adds to its versatility, making it an excellent opportunity for those looking to develop, repurpose, or create a long-term asset in a thriving neighborhood. With East Harlem's ongoing transformation and increasing demand for both residential and commercial spaces, this is a rare chance to secure a property with endless possibilities in one of Manhattan's most dynamic areas. Don't miss this rare opportunity to be part of East Harlem's exciting evolution. This property offers endless potential. Schedule a viewing today and take the first step toward making this exceptional investment yours.

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Important Stuff
Pets allowed
Washer/Dryer in unit
Home features
Hardwood floors
Private outdoor space

Private Garden

View

City, Garden

Building amenities
Services and facilities
Fios Available
Parking

Garage

Shared outdoor space
Garden
Patio
Building info

History
What it'll cost
Purchase price
$2,095,000
Asking Price: $2,095,000
Term
30 Years
Down Payment
$209,000 (10%)
Min: 10% (209,000)
Rate
6.5 %
Mortgage Amount
$1,885,500
Mortgage Payment
$11,918
Taxes
$265
Estimated Yoreevo rebate
$26,188
Estimated closing cost
$78,000
Total monthly cost $12,183
Buy your dream home with us and get an estimated $26,188 rebate.
Rebates vary by sale price, market and are subject to a minimum commission.
Listing Courtesy of Brown Harris Stevens

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