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160 East 125th Street
Update
05/09/23
MTA Scoops Up East Harlem Development Parcel for $82M
A large, vacant parcel of land, located at 160 East 125th Street in Manhattan's East Harlem neighborhood, has just been sold for $82 million. The 78,768 square-foot lot was purchased by the Metropolitan Transit Authority (MTA) from the previous owner, Extell Development Company.
The lot offers 218,086 square feet of air rights, but the chances of any new building going up within the current decade are unlikely. Instead, the MTA plans to use the property as a staging area and soil extraction site for Phase 2 of the upcoming, Second Avenue Subway extension. The extension will extend the Q line from its current 96th Street terminus in Yorkville to 125th Street, with new stations at 106th Street, 116th Street, and ultimately a new terminus, that will sit directly below the parcel in question. At the earliest, the extension will not debut until 2027-2029, but it's even more likely that we'll see the project wrap up sometime in the early to mid-2030s.
