Listed by RIPCO Real Estate
$6,900,000
CALL FOR OFFERS MAY 15TH! 239-245 East Tremont Avenue
Details
APN 2809/45
Property Type Land
Sub Type Commercial
Lot Size (SqFt) 8,704
Zoning R8, C1-4
Land | 8,704 SqFt
Marketing description
Ripco real estate has been retained on an exclusive basis to arrange for the sale of 239-245 east tremont avenue , a retail property delivered vacant, creating strong upside as a development investment.
The site is ideally positioned to leverage the 485-x tax incentive program, which offers bronx developers up to 40 years of property tax relief on new multifamily construction in exchange for affordable unit set-asides ? A critical tool for improving project feasibility in today?S capital markets environment. Mount hope?S combination of proximity to manhattan, strong transit infrastructure, and a predominantly aging pre-war housing stock creates a compelling supply-demand dynamic with meaningful upside for developers willing to capitalize on the neighborhood?S early-stage trajectory. The bronx today mirrors where brooklyn was decades ago ? And early-mover developers stand to benefit most from that momentum
Investment highlights
- Lot & Zoning 100 ' x 87' lot zoned R8 / C1-4, with 62,669 BSF
- Prime Bronx Development
- Development project optionality spanning to 75,203 BSF with Universal Affordability Preference (UAP)
- Excellent Transit Access
- Less than a 2-minute walk to both the B&D subway lines at Grand Concourse and a 7-minute walk to Metro North at Tremont Station
- Incentive Compatibility Ideal size and opportunity to leverage 485-x program
- Due Diligence
- Phase 1 and survey available
- Dynamic Submarket Mount Hope's combination of proximity to Manhattan, strong transit access via B, D and 4 trains, and aging housing stock makes this site a compelling candidate for investors
Listing Contacts
Listed by RIPCO Real Estate
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