Rare 2.75 Acre City Island Waterfront Development Site with Cashflowing Marina

Highlights:

• Ariel Property Advisors has been retained on an exclusive basis to arrange the sale of 521 City Island Avenue, a premier development opportunity located in the heart of the Bronx’s “Nautical Village”.
• Spanning a massive 120,042 square feet, this site represents one of the largest single-ownership footprints on City Island. With a generous 278.72’ of frontage along City Island Avenue, the property offers a rare “blank canvas” for developers to bring much-needed housing or commercial space to this growing and unique neighborhood.
• The property’s R3A zoning with a C2-2 overlay—situated within the City Island Special District (CD)—provides a diverse array of development options. Whether pursuing a luxury detached residential community, a commercial maritime facility, or a mixed-use project, 521 City Island Avenue offers an ideal balance of coastal tranquility and urban accessibility.
• Premier City Island Development Opportunity: At 2.75 acres (120,042 SF), this lot size provides unrivaled scale for the neighborhood, allowing for a master-planned development rather than a simple infill project. The site can yield approximately 90,032 buildable SF as-of-right, with potential for up to 120,042 buildable SF as a Qualified Residential Site (485-x), Senior Housing, or commercial development.
• Flexible Zoning Options: The R3A / C2-2 (CD) designation permits detached single-family homes, commercial uses, or community facilities as-of-right.
• Expanded Marina Potential: Opportunity to leverage 149,928 SF of land under water via recorded riparian rights to expand the existing 80-slip marina to a ~120-slip configuration, providing a significant value-add for a waterfront destination or private residential boat club. Currently the Marina Gross Income is $392,000.
• City Island serves as a premier residential destination, offering a unique waterfront lifestyle that is highly sought after but supply-constrained.
• Located near local bus routes (Bx29) that connect directly to the 6 Subway line at Pelham Bay Park.
• Minutes away from “Restaurant Row,” local yacht clubs, and nature preserves

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