INVICTUS Property Advisors has been retained on an exclusive basis for the sale of a development opportunity in Washington Heights. The subject property is uniquely situated between the New York Presbyterian and Columbia University medical village, access to the George Washington Bridge, the Cross Bronx Expressway and FDR Drive. Currently the lot is unimproved, presenting a developer with the opportunity to build without any need to demolish an existing structure.
A future developer can build 20,000 SF of residential as-of-right, and an additional 12,500 BSF of community facility use. Ownership has commenced a survey and Phase I Environmental Assessment which will be provided to prospective investors upon their completion.
Directly across the street from the subject property is an entrance to Highbridge Park. Future residents would have access to The Highbridge Recreation Center and Pool, as well as baseball fields, basketball courts and greenery. Named after High Bridge, New York City's oldest standing bridge, is also just steps away. Within five blocks from the site, there is a Fire Station (FDNY Station 13) and a Police Precinct (NYPD 33rd Precinct). In addition, Yeshiva University is located 7 blocks north from the subject property.
Transportation by subway is available nearby on the A train on West 175th Street and Fort Washington Avenue, and the A, C & 1 on West 168th Street and Broadway with access to Midtown Manhattan in 35 minutes. The property is located in a coveted certified opportunity zone, allowing an investor to realize tax incentives as per IRS guidelines.