502 E 118th St New York, NY 10035
East Harlem NeighborhoodEstimated payment $11,958/month
Total Views
2,566
5
Beds
3
Baths
3,232
Sq Ft
$648
Price per Sq Ft
Highlights
- Patio
- Central Air
- Garage
About This Home
Rare Townhouse & Garage Combination in East Harlem - Prime Development Potential
A truly unique find in East Harlem, this three-family townhouse with an attached garage offers an exceptional opportunity for developers, investors, and end-users alike. With approximately 12,164 buildable square feet with additional bonus opportunity, this property boasts 45 feet of frontage on East 118th Street, making it a rare and highly desirable asset in one of Manhattan's fastest-growing neighborhoods.
The townhouse, measuring approx. 17' 10 feet wide by 44' 11 feet deep, offers expansive living space with incredible potential for reconfiguration, whether as a rental conversion, single-family residence, or boutique condominium development. The possibilities for the yard space that measures 50' 6 X 25' are endless. Adjacent to the home, the garage, spanning 25 feet wide by 50 feet deep, presents exciting possibilities for commercial or mixed-use development.
This unique property is zoned for both residential and commercial uses, creating flexibility for a wide range of potential projects. Whether you envision a luxury rental building, a mixed-use development, or a unique live-work space, this site provides the perfect foundation to bring your vision to life.
Located on a charming cobble stone street where two one way streets meet, the block has the feel of a private cul-de-sac and emanates calm and peace. The property is just one block from East River Plaza, home to Costco, Marshalls, Aldi, and other major retailers. Transportation is seamless, with the 116th Street crosstown bus, the 6 train at 116th Street, and easy access to the FDR and nearby biking trail. The expansion of the Q train offers more future upside here.
An additional benefit is the proximity to an expanding selection of dining, shopping, and cultural destinations. The neighborhood is in the midst of a major revitalization, with new residential developments, infrastructure improvements, and cultural initiatives reshaping the landscape. City-led efforts to create affordable housing, green spaces, and community-driven projects such as the upcoming Afro-Latin Music and Arts Center and sustainable housing initiatives like Sendero Verde underscore the area's transformation into a vibrant, thriving community.
The ability to deliver the property vacant adds to its versatility, making it an excellent opportunity for those looking to develop, repurpose, or create a long-term asset in a thriving neighborhood. With East Harlem's ongoing transformation and increasing demand for both residential and commercial spaces, this is a rare chance to secure a property with endless possibilities in one of Manhattan's most dynamic areas.
Don't miss this rare opportunity to be part of East Harlem's exciting evolution. This property offers endless potential. Schedule a viewing today and take the first step toward making this exceptional investment yours.
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $3,180
Year Built
- 1899
Parking
- Garage
Interior Spaces
- 3,232 Sq Ft Home
- 3-Story Property
- Laundry in unit
Bedrooms and Bathrooms
- 5 Bedrooms
- 3 Full Bathrooms
Additional Features
- Patio
- Central Air
Community Details
- East Harlem Subdivision
Listing and Financial Details
- Legal Lot and Block 0048 / 01716
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2024 | $3,162 | $34,288 | $59,100 | $20,073 |
| 2023 | $6,285 | $32,347 | $12,863 | $19,484 |
| 2022 | $2,780 | $157,620 | $59,100 | $98,520 |
| 2021 | $3,027 | $169,380 | $59,100 | $110,280 |
| 2020 | $2,864 | $192,900 | $59,100 | $133,800 |
| 2019 | $2,696 | $181,740 | $59,100 | $122,640 |
| 2018 | $2,450 | $26,956 | $12,074 | $14,882 |
| 2017 | $5,195 | $26,956 | $8,467 | $18,489 |
| 2016 | $4,963 | $26,374 | $11,183 | $15,191 |
| 2015 | $2,847 | $24,883 | $11,870 | $13,013 |
| 2014 | $2,847 | $23,811 | $9,654 | $14,157 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 04/18/2025 04/18/25 | For Sale | $2,095,000 | -- | $648 / Sq Ft |
Source: Real Estate Board of New York (REBNY)
Deed History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Interfamily Deed Transfer | -- | -- | |
| Interfamily Deed Transfer | -- | -- | |
| Deed | -- | -- |
Source: Public Records
Similar Homes in the area
Source: Real Estate Board of New York (REBNY)
MLS Number: RLS20017444
APN: 1716-0048
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This information is not verified for authenticity or accuracy and is not guaranteed and may not reflect all real estate activity in the market. ©2025 The Real Estate Board of New York, Inc., All rights reserved.
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