Listed by RIPCO Real Estate
$9,000,000
Undercliff Ave
Details
APN 2533/72
Property Type Land
Sub Type Commercial
Tenancy Vacant
Lot Size (SqFt) 28,413
Zoning R7-1
Investment Type Redevelopment
Land | 28,413 SqFt
Marketing description
South Bronx, NY Land for Sale. Undercliff Avenue. 28,413 SF Available. Bid Deadline of October 31st.
Investment highlights
- City of Yes Housing Opportunity: Potential to build up to 842,091 SF; Benefits from increased floor area, building height and bulk allowances, and reduced parking requirements
- Location: Located in the Highbridge neighborhood of the South Bronx; I-87 (Major Deegan Expressway) ~3-minutes drive; I-95 (Cross-Bronx Expressway) ~5-minutes drive; 4, B, D subway lines & Bx11, Bx13, Bx18 bus lines within walking distance; Less than 25 minutes to Midtown Manhattan
- Neighborhood Developments: Recent surge in residential development, driven by city policy, strong demand for affordable housing, and institutional investment; Nearby substantial affordable housing projects along the Jerome Avenue corridor, one of NYC's most active affordable and mixed-income development zones
- Tax Benefits: Opportunity to leverage 485-x Property Tax Abatement and Low-Income Housing Tax Credits (LIHTC) when incorporating affordable housing components; Located in a Qualified Opportunity Zone; Environmental Zone (En-Zone) makes it a great candidate for consideration for New York's Brownfield Cleanup Program (the BCP)
- Comprehensive Due Diligence: Pre-development materials available including: Surveys; Zoning & Massing Studies with City of Yes scenarios; Environmental Reports; Geotechnical Studies
Listing Contacts
Listed by RIPCO Real Estate
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