2197 3rd Ave

Asset CRG Advisors is pleased to announce the successful sale of 2197 3rd Ave, New York, NY 10035, a prime East Harlem development opportunity that closed on December 16, 2025, for $18,000,000. Serving as the exclusive brokerage, Asset CRG Advisors positioned this shovel-ready asset to allow the new ownership to capitalize on the robust demand for high-quality residential projects in Manhattan.

The 9,300-square-foot lot features approved plans for a 105,590 buildable square-foot mixed-use tower. The approved layout encompasses 98,300 square feet of residential space for 139 units (including 34 designated for affordable housing), 5,842 square feet of commercial space, and a 1,447-square-foot community facility.

Offering significant long-term value, the project is fully vested in a coveted 421a tax abatement for substantial tax savings. Additionally, future residents will benefit from excellent transit connectivity via the nearby 3 Ave - 138 St Subway Station, providing seamless access directly into Midtown Manhattan.