JLL has been retained on an exclusive basis to arrange for the sale of 324 East 86th Street a 25,543 30,651 Zoning Floor Area (“ZFA”) development site in the heart of The Upper East Side. The property is coming to market for the first time since 1976. The Site encompasses a 25’ wide, 2,554 square foot lot situated on the south side of West 86th Street between 1st and 2nd Avenues. Currently, the site is improved by a 4,250 square foot, two-story commercial building. The property can be delivered vacant at closing, allowing purchasers an ideal opportunity to either repurpose the existing structure for their own use or utilize the 25,543-30,651 ZFA to build ground up new construction. The Site falls within the C2-8A/R10A zoning district allowing or a base FAR of 10.0 which expands to 12.0 under the City of Yes, Universal Affordability Program (“UAP”). The Upper East side has recently seen an increase in new ground up-development, most of which is geared toward the ultra-luxury for sale product targeting sales north of $2,400 PSF. With the recent introduction of City of Yes, rental developers will now be able to compete with condominium developers to deliver much needed housing for the city. 324 East 86th Street presents a unique opportunity for developers to deliver either a boutique condominium product targeting finished price points to an under supplied portion of the market or a luxury new rental property which benefits from a 35-year tax abatement.