NEW YORK, NY – January 27, 2016 – Ariel Property Advisors has been retained to sell The York Avenue Assemblage, a mixed-use development site featuring 175’ of retail frontage at the southeast corner of York Avenue and East 86th Street in Manhattan’s Upper East Side neighborhood. The asking price for the package is $49,000,000.

Residing at 1622-32 York Avenue, R10A/C1-5 zoning provides approximately 75,095 buildable square feet, as-of-right for a new mixed-use building. Additionally, developers can increase the size of the building to 90,012 square feet with inclusionary housing.

Exclusive agents Michael A. Tortorici, Victor Sozio, Shimon Shkury, Howard Raber, Randy Modell and Jesse Deutch are representing the owner, a private investor.

“Offering exceptional scale and a prime corner location, we’re expecting strong interest from a broad spectrum of developers seeking a presence in this thriving residential neighborhood,” said Michael A. Tortorici, Executive Vice President of Ariel Property Advisors. A recent article from The Real Deal pointed to a building boom occurring in the area as 12 projects are being developed East of Lexington Avenue in Yorkville.

The offering is conveniently located near a variety of transportation options, which includes the 4, 5, 6 subway on Lexington Avenue, the East 90th Street Ferry and the FDR Drive. Scheduled to open in December 2016, the highly anticipated Second Avenue Subway will also be a benefit to the property’s future residents. The properties are also in close proximity to several prominent residential developments and surrounded by several premier private schools, including the Loyola School, Regis High School and the Dalton School.