Asset CRG Advisors has been exclusively retained to market 2197 3rd Avenue, New York, NY 10035, a 421a-approved development opportunity available FOR LEASE in the heart of East Harlem, Manhattan. The property sits on a 9,300-square-foot lot and is delivered with approved plans for a 105,590 buildable square foot mixed-use building on an as-of-right basis. The zoning program allows for 98,300 square feet of residential space, 5,842 square feet of commercial space, and 1,447 square feet of community facility space.

Approved plans call for 139 residential units, including 51 studios, 63 one-bedroom units, and 25 two-bedroom units, along with ground-floor commercial space and a community facility component. A total of 38 units are designated as affordable housing under the approved program. The project benefits from a 421a tax abatement, providing meaningful long-term tax advantages to the leaseholder.

The site is located near the 3 Avenue–138 Street station on the 6 subway line, offering strong connectivity to Midtown Manhattan and surrounding neighborhoods. This shovel-ready, leasehold development opportunity is well suited for developers and operators seeking to execute a large-scale residential project in one of Manhattan’s most active and growing submarkets.

• 421a-approved development opportunity with approved plans in the heart of East Harlem, Manhattan.
• The site consists of a 9,300 SF lot with 105,590 SF of as-of-right zoning floor area, including 98,300 SF residential, 5,842 SF commercial, and 1,447 SF community facility.
• Delivered with approved plans for a 141-unit mixed-use building, including 51 studios, 63 one-bedrooms, and 25 two-bedrooms, plus one commercial space and one community facility.
• The approved program includes 38 affordable housing units.
• The project benefits from a 421a tax abatement, providing long-term tax savings upon completion.
• Located near the 3 Avenue–138 Street subway station (6 line), offering convenient access to Midtown and greater Manhattan.