33,660 BSF Opportunity Zone Development Site in the South Bronx | FOR SALE

Description:

Ariel Property Advisors is pleased to present 961 Westchester Avenue, a prime South Bronx mixed-use development opportunity located on the Northeast corner of Westchester Avenue & Kelly Street.

This site measures 100’ x 150’ (irregular) and is zoned R7-1/C2-4 (FAR: 4.00 on the as-of-right and 4.8 with Community Facility) providing an opportunity for a mixed-use development in one of the Bronx’s fastest growing areas. Ownership has submitted plans for approval that would allow for 33,660 buildable square feet (including community facility). The site is located in the Opportunity Zone, which allows investors to take advantage of the financial benefits the program offers.

Westchester Avenue’s desirable location provides superior accessibility to Manhattan and the other boroughs as the property is situated on the same corner as the entrance to the 2 and 5 subway station on Intervale Avenue, as well as a short walk to the 6 train at the Hunts Point Avenue station. The future development is directly across the street from Fine Fare Supermarket allowing for convenient grocery shopping for the future tenants in the building. The asset is also surrounded by well-known establishments such as Blink Fitness and new developments such as the Crossings at Southern Blvd, which is home to Dunkin Donuts, Bank of America and McDonald’s.

Offering accessibility, scale and prime location in a rapidly appreciating area of the South Bronx, 961 Westchester Avenue represents an outstanding development opportunity. South Bronx Market.

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