453 W 162nd St, New York, NY for sale

Investment Overview

Asset CRG Advisors, LLC, has been exclusively retained to market 453 W 162nd St, a prime vacant development site in Washington Heights, Manhattan. The property offers approximately 2,306 square feet of versatile space on a 20.5’ x 112.5’ lot, with approximately 9,224 SF of buildable area and up to 11,553 SF under UAP. Ownership has advanced plans in the final stages of DOB approval for a 12-unit elevator building comprising 11 two-bedroom apartments and one one-bedroom apartment. Located within an Opportunity Zone, offering potential tax benefits for qualifying investors. Ideally positioned near Highbridge Park and the 163rd St–Amsterdam Ave and 157th Street subway stations, the property provides convenient access to the 1 train and throughout Manhattan. The surrounding neighborhood offers a vibrant mix of dining, shopping, and entertainment, with proximity to Columbia University Medical Center further enhancing the area’s residential appeal.

Investment Highlights

• Prime vacant lot, perfectly positioned for residential development in Washington Heights, Manhattan.
• Offers a generous 9,224 SF of buildable space and up to 11,553 SF under UAP, providing ample room for a substantial project.
• Current ownership has advanced plans, now in the final stages of DOB approval, for a 12-unit elevator building.
• The proposed development features 11 spacious two-bedroom units and 1 well-designed one-bedroom apartment, making it an attractive investment opportunity.
• Located within an Opportunity Zone, offering potential tax benefits for qualifying investors.
• Conveniently located near the 157th Street subway station (1) and 168th Street station (1/A/C).