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- LoopNet Team
1941 Jerome Ave
Bronx, NY 10453
Land For Sale · 0.36 AC
Investment Highlights
- Prime 34,708 SF corner lot at Jerome Avenue and West Tremont
- Preliminary Plans for 333 Residential Units plus 30,000 SF of Commercial Space
- Comprehensive Due Diligence available, including access agreement, plans, appraisal, Phase 1 and 2 environmental studies, demolition quotes, Geotech r
- Zoned C4-4D (R8A Equivalent), offering 249,898 Residential BSF
- One block from Burnside Avenue 4 Subway Station - 27 minutes to Grand Central
- Eligible for the Brownfield Cleanup Program
PROPERTY FACTS
| Property Type | Land | Total Lot Size | 0.36 AC |
| Property Subtype | Residential |
| Property Type | Land |
| Property Subtype | Residential |
| Total Lot Size | 0.36 AC |
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.
PROPERTY TAXES
| Parcel Number | 02862-0097 | Improvements Assessment | $1,004,000 |
| Land Assessment | $301,000 | Total Assessment | $1,305,000 |
PROPERTY TAXES
zoning
| Zoning Code | CD-4D (R8A Equivalent) |
| CD-4D (R8A Equivalent) |
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