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286 Rider Avenue,
Bronx, NY

Closed
$12,000,000
/1

Overview

Bankruptcy Sale

286 Rider Avenue,
Bronx, NY

97,067 BSF

Description

Property Snapshot

  • 97,067 BSF development site with 293 feet of frontage
  • 21,078 SF (175’ x 110’) lot
  • Located in qualified opportunity zone
  • Potential 421A Tax Abatement
  • Plans for 8 and 9 story buildings consisting of 135 units with 57 parking spaces
  • Currently a 20,555 SF vacant warehouse
  • Located in prime Mott Haven
  • Blocks from the 4, 5, & 6 subways and 3rd Avenue Bridge providing easy access to Manhattan

The site is located in the desirable Mott Haven neighborhood of the Bronx, New York. It has 175 feet of frontage along Rider Avenue and 118 feet of frontage on East 139th Street. It is currently improved with a single-story 21,229 square foot industrial building. Plans call for an 8 and 9-story multi-family residential building consisting of a total of 135 apartments; a mix of studios, one bedroom and two bedroom units, with 57 parking spaces and 25 storage bins in the cellar level and ground floor. A developer is expected to apply for a 421-A exemption and will need to allocate 20% of the units to tenants with 80% of the area median income (“AMI”), and 10% of the units to tenants with 130% AMI. The remaining units will be market rate. Located just blocks from the 4, 5 and 6 subway lines, and the 3rd Avenue bridge, the property offers easy accessibility to Manhattan. The property benefits from Mott Haven’s vibrant new restaurants, art, music, entertainment, and new construction buildings, which is extremely attractive to modern renters seeking convenience, easy transportation, and activ

Documents

Description

Property Id : 40181
Property Size: 97 ft2

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