• The subject properties are two development sites located in the Mount Hope neighborhood of the South Bronx.
• Both sites together offers a combined approximate of 120,000 buildable square feet.
• Sellers also owns 12 East Tremont Avenue which they will retain and sits in between both properties and will allow the transfer of air rights between sites if needed through a zoning lot merger.
• Multiple transportation options are available with the 4 train within 1.5 blocks to Burnside Avenue station and B D trains within 3.5 blocks to Tremont Avenue – Grand Concourse station.
1956 JEROME AVENUE
• As part of the recently rezoned Jerome Avenue corridor, property is situated in the mandatory inclusionary housing zoning (C4- 4D), allowing for 74,657 buildable square feet.
• Subjectisacornermixed-use development site located on the southeast corner of Jerome Avenue and East Tremont Avenue.
• Existing building is collecting $11,000/ month ($132,000/annually) and has a partial basement under corner restaurant, allowing for maximum lot coverage.
1937 WALTON AVENUE
• Subject is a 75’ x 100’ residential development site located on the west side of Walton Avenue between East Tremont Avenue and East 177th Street.
• Sellers will need to retain 15 parking spaces for neighboring business operations at 10 East Tremont Avenue.
• Property is situated in R8 zoning which allows up to 45,150 buildable square feet of free-market units.