Invictus Property Advisors has been retained on an exclusive basis for the sale of 701 West 135th Street, a retail opportunity or development site delivered vacant and within close proximity to the Columbia University Expansion Project.
This site offers an exceptional opportunity for investors to capitalize on a strong, dynamic neighborhood in Upper Manhattan. Situated on a corner lot with almost 400 feet of wraparound frontage, the property boasts great visibility and access, making it ideal for a transformative residential or mixed-use project. Delivered vacant at closing, the site provides immediate redevelopment potential.
Alternatively, the more than 19,000 square foot building in already subdivided into three retail spaces and can be rented up with tenants benefiting from the property’s proximity to both the West Side Highway and Columbia University.
ULURP Approval
This site was previously zoned M1-1 however, the owner applied for a variance via a ULURP. As a result, the site was rezoned R7-2, with a C2-4 overlay, permitting up to 55,531 residential and mixed-use buildable square feet (BSF). The site is in a mandatory inclusionary housing (MIH) area.. The owner currently has city approval and is waiting on Amtrak’s approval to cantilever over the existing tracks, and will take offers subject to their approval.
Neighborhood Overview
Manhattanville, located in the northern part of Manhattan, is a historic and vibrant neighborhood known for its rich cultural heritage and stunning architecture. Sometimes called the Mini-Meatpacking District and, while still in the early stages, all the ingredients are there for the next big thing in Harlem’s Manhattanville district. Located just west of Broadway and running from 125th to 135th Street, a submarket worthy of its own name is emerging. Like the Meatpacking District located west of Hudson Street to the Hudson River, south of West 14th Street and north of Gansevoort Street, this pocket of West Harlem is quickly becoming home to more and more college students and young professionals seeking swish boutiques, trendy restaurants, and rooftop escapades much like their downtown counterparts.
Columbia University Expansion Project
The Columbia University expansion project, centered around the Manhattanville campus in West Harlem, represents a transformative initiative to extend the university's footprint and revitalize the surrounding community. Spanning 17 acres and more than 7 million square feet, this state-of-the-art development integrates academic, research, and public spaces, including the Jerome L. Greene Science Center, the Lenfest Center for the Arts, and the Forum. Designed with sustainability and accessibility in mind, the project incorporates open green spaces, pedestrian-friendly pathways, and cutting-edge facilities to foster collaboration and innovation. Beyond its architectural significance, the expansion aims to create lasting economic and social benefits by generating jobs, enhancing local infrastructure, and supporting community programs in the neighborhood.
Transportation
This site is conveniently located three blocks away from the 137th Street & Broadway Subway Station servicing the 1 line. The 135th Street Subway Station servicing the C and B trains is also nearby.
