249,898 SF Development Opportunity
$22,500,000
1941-1959 Jerome Avenue, Bronx, NY 11385
249,898 sqft
Building Size
34,708 sqft
Lot Area
Details:
Description:
RIPCO REAL ESTATE has been retained on an exclusive basis to arrange for the sale of 1941-1959 JEROME AVENUE — in the Morris Heights neighborhood of the Bronx. The property is a development site with preliminary plans for a fifteen-story mixed-use building. The plans allow for 30,000 SF of commercial space on the ground floor and 333 residential units.
The location provides easy access to transportation with the 4 subway line running along Jerome Avenue and the B , D subway along the Grand Concourse. The cross Bronx expressway (I95) is located a few blocks to the south, along with ample retail offering at nearby Fordham Road.
The Jerome Avenue rezoning of 92 blocks was approved by the city council in March 2018 to increase the availability of affordable housing. This is the biggest rezoning project in the history of New York City and offers a chance to create thousands of affordable units. Several established developers have already created hundreds of affordable units along the corridor. This site presents a unique opportunity to develop a large-scale affordable housing project that meets the growing demand for affordable housing.
Documents:
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Offering Memorandum
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Location
Gallery
