18 Magaw pl Lot | Terrain commercial | 0,05 ha | À vendre | New York, NY 10033

Development Opportunity
18 Magaw Place
Washington Heights | New York, NY
Ali Raza of The Corcoran Group, as exclusive agent, is pleased to present 18 Magaw Place (the “Site”), a residential development opportunity located in the Washington Heights neighborhood of Upper Manhattan.
The Site consists of approximately 4,858 square feet with approximately 50 feet of frontage and a lot depth of approximately 161 feet, providing an efficient footprint for residential development. The property is located within an R7-2 zoning district, which permits residential, community facility, and mixed-use development.
Under current zoning regulations, the Site allows for approximately 16,712 buildable square feet of residential development based on the permitted 3.44 residential FAR. The lot’s dimensions and frontage provide an efficient configuration for a mid-rise residential building.
Additionally, the property allows for community facility development, which permits a significantly higher 6.5 FAR, resulting in approximately 31,577 buildable square feet for community facility use. This creates flexibility for developers pursuing uses such as medical offices, educational facilities, nonprofit institutions, or mixed residential and community facility development.
Due to the Site’s irregular lot configuration, there may also be an opportunity to pursue zoning relief or a variance that could increase the overall buildable area beyond the as-of-right residential envelope. Preliminary development analysis suggests the potential to achieve in excess of 22,000 buildable square feet, subject to approvals and architectural design.
The property benefits from a prime location in Washington Heights, just moments from Broadway, the neighborhood’s primary retail corridor, and within close proximity to the A and 1 subway lines, providing convenient access to Midtown Manhattan and the Upper West Side. The surrounding area is anchored by Columbia University Irving Medical Center, one of the largest medical and research campuses in New York City, which continues to drive strong housing demand throughout the neighborhood.
With flexible zoning, substantial buildable potential, and strong neighborhood fundamentals, 18 Magaw Place represents a compelling opportunity for developers to deliver a new residential or mixed-use project in one of Upper Manhattan’s most active residential markets.
Please reach out to Ali Raza: ali.raza@corcoran.com (929)386-4815