242-244 East 116th Street

242-244 East 116th Street
New York, NY 10029

$7,500,000

  • Sq. Ft: 19,134
  • Price per Sq. Ft: $392

Marcus & Millichap is the exclusive sales broker for 242-244 East 116th Street, a mixed-use building between Second and Third Avenues.

The subject property contains twenty-six two-bedroom rent stabilized apartments and three stores. The stores are occupied by a barber, a bakery and a flower/gift shop.

The subject property measures 43 feet by 88 feet totaling approximately 19,134 square feet and sits on a 43 x 101-foot R7D/C1-5/EHC-zoned lot (maximum 4.2 floor area ratio). The building is neither landmarked nor in a historic district.

The subject property is two blocks from the Lexington Avenue 6-train station at 116th Street. It will be directly adjacent to the future Second Avenue Subway’s 116th Q-train station (the MTA recently allocated $4.55 billion for Phase II). The subject property is also part of the East Harlem Rezoning (approved 11/30/17) which over the next ten years is projected to result in 3,500 new dwelling units, 122,000 square feet of stores and restaurants, and 275,000 square feet of office and industrial space.


John J. Stewart

Licensed Real Estate Associate Broker

Email: John.Stewart@marcusmillichap.com
Phone: (212) 430-5152

Nicholas M. Biedron

Licensed Real Estate Salesperson | Uptown, Midtown

Email: Nicholas.Biedron@marcusmillichap.com
Phone: (212) 430-5198

Stephen Bell

Licensed Real Estate Salesperson | Midtown East, Upper East Side, East Harlem

Email: Stephen.Bell@marcusmillichap.com
Phone: (212) 430-5273