East Harlem site bought for $15M gets a demolition filing

A nonprofit housing development fund paid $15M for a four-story building on Third Avenue in East Harlem in December, and on Oct. 1 a full demolition of the structure was filed with the Department of Buildings, 290 days after the deed.

The buyer on the deed is St. Francis Residence IV Housing Development Fund, which bought the property from New Life Holding Corp. The deed is dated Dec. 15, 2025 and was recorded Dec. 23. Two mortgages, $11,936,000 and $4,064,000, were recorded the same day, both naming Corporation for Supportive Housing as lender. That is $16M of debt against a $15M purchase.

Why it matters

For anyone sizing East Harlem sites, this is a cleared-lot signal on a corner-scale parcel backed by supportive-housing financing. The lot is 11,395 sq ft and zoned C4-6, per city lot data, so a replacement building could be large. The filing does not say what comes next, and we did not find a new-building permit for the address.

One detail does not line up. The filing lists the owner as TPT Long Marmion LLC, not the fund that took the deed. The deeds and mortgages we reviewed show no transfer to that name, so the link between the two is unconfirmed.

The numbers

The demolition job, M01419241-I1, is a standard plan examination for full demolition “using mechanical means,” with a stated cost of $500,000. It was still awaiting plan examiner assignment on the day it was filed. The building has four stories and no dwelling units on record.

The address appears as 2162 Third Avenue in the deed and 2170 Third Avenue on the filing; both share block 1767, lot 33. We computed the 290 days from the deed date to the filing date.

What’s next

Watch for a new-building filing on the same lot and for any recorded transfer to TPT Long Marmion LLC, which would explain the owner name. Demolition work cannot start until the plan examiner approves the job. For the wider picture, see our New York market page.