Assignments

50' Wide Development SIte in West Farms

1903 Vyse Ave, Bronx, NY 10460

1903 Vyse Ave, Bronx, NY 10460

under contract

Asking
Sale Price
$
2250000
2275000

Property Details

Status
Sold
Property Type
Residential Development Site
Price Summary
$
2250000
Sale Price
$
2275000
Buildable SF
24898
Building SF
24898
LOT SF
24898
Cap RATE
%
Zoning
R7-1

Highlights

  • Two adjacent development sites at 1903 & 1905 Vyse Avenue, Bronx, NY, totaling 7,238 Sq. Ft.
  • Combined lot dimensions of 50' x 144' with vacant buildings allowing immediate development
  • Zoned R7-1 with a floor area ratio (FAR) of 3.44, permitting up to 25,000 Sq. Ft. of zoning floor area (ZFA)
  • Located steps from the West Farms & Boston Road subway stop, providing 35-minute access to Manhattan
  • Eligible for the 485-x Affordable Neighborhoods for New Yorkers (ANNY) tax abatement program
  • Potential for an 8-story building comprising approximately 36 residential units

Property DEscription

For sale are two adjacent development sites located at 1903 & 1905 Vyse Avenue in the Bronx, NY. These sites collectively offer 7,238 square feet of development potential with a combined frontage of 50 feet and a depth of 144 feet. The properties are zoned R7-1, featuring a floor area ratio (FAR) of 3.44 which allows for the construction of up to 25,000 square feet of zoning floor area (ZFA). Strategically positioned just steps from the West Farms & Boston Road subway stop, the location ensures easy access to Manhattan within 35 minutes, enhancing commuter connectivity. The property is primed for a residential project under the newly enacted tax abatement program, 485-x Affordable Neighborhoods for New Yorkers (ANNY), presenting an appealing opportunity for rental developers. The allowable construction can go up to an 8-story building with approximately 36 units, making it an optimal choice for maximizing residential capacity and meeting urban housing demands. This offering represents a unique investment in a rapidly developing area, poised for significant growth and profitability.

Map

Anand Melwani
Partner
(516) 658-1222
am@landairnyc.com

Documents

Offering Memorandum
Data Room

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