Permits Filed: 2150 Second Avenue, East Harlem

2150 Second Avenue2150 Second Avenue, image via Google Maps

Bit by bit, East Harlem’s remaining vacant tenement lots are being filled in, as the area continues to grow in appeal and prices rise in more established neighborhoods downtown. One of the next buildings likely to rise is 2150 Second Avenue, between East 110th and 111th Streets.

At 2150 Second Avenue, T.F. Cusanelli & Filletti Architects – whose materials of choice, per projects highlighted on their website, are red brick and stucco – filed for a new building permit, for a narrow 11-story residential structure wedged into the 25-foot-wide lot.

The building, to be developed by Chris Tao’s Harlem Vista LLC, based in Manhasset in Nassau County, would include 17 apartments spread over a bit more than 13,000 square feet of residential space, plus a 1,863-square foot commercial component on the ground level. With units averaging 775 square feet and an East Harlem location, the project is most likely a rental, though Tao would not comment when reached by YIMBY this afternoon.

If the project is indeed a rental, a new building one block up, at 2167 Second Avenue, offers some hints as to pricing. One-bedrooms in that building, completed in 2008, have been asking anywhere from $1,600 for a unit with one bathroom to $2,200 for a two-bathroom duplex penthouse.

The parcel was picked up in 2007 for $309,000, or a mere $20 per buildable square foot – a fraction of what such a site would go for today, and a number that doesn’t make all that much sense, even for 2007.

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TFC Horizon