Convivium at 515 East 86th St. TOWNHOUSE

Ariel Property Advisors presents 515 East 86th Street, a 22’ Wide development site located on the north side of East 86th Street between York Avenue and East End Avenue. The four-story building that currently occupies the lot is a 6,060 square foot, renovated four family, with one duplex and three single bedrooms, which will be delivered vacant. Zoned R10A (10.0 FAR), the property permits approximately 22,150 buildable square feet (As-of-right) for a rental or condominium development. New development will benefit from unobstructed views, from above the sixth story level, of the East River and the Manhattan skyline to the North and South.

Situated just two avenue blocks from the corner of Second Avenue and 86th Street, the site stands to benefit tremendously from the future arrival of the Second Avenue Subway. The area is currently served by the 4,5,6 Train on Lexington Avenue, the East 90th Street Ferry, and the nearby FDR Drive. Local landmarks and institutions include the Carl Schurz Park, the Museum of Motherhood, and the Gracie Mansion Conservatory. Residents are able to take advantage of nearby shopping and recreational activities at The Fairway Market and 92nd Street Y. The area is also distinguished by its abundance of prestigious schools such as The Brearley School, The Chapin School, and The Dalton School.

With its easy access to transportation, close proximity to a strong retail corridor and the imminent arrival of the Second Avenue Subway, 515 East 86th Street presents investors with a prime condominium or rental development opportunity in an established but rapidly expanding section of the Upper East Side.