Bronx Development Opportunity Near Future
1437 Bassett Ave, Bronx, NY 10461
For Sale
Contact for pricing
Residential development site near upcoming Metro-North station.
Property SizeContact for details
Lot Size0.34 Acres
Days on Market287
Property Features for 1437 Bassett Ave
General Information
Standard status
Lot size
Property subtype
Zoning
Listing Agency:
G.E. Grace & Company, Inc.
Listed By:
Charles Turbak
Source:
Crexi
Added: Jan 28
Changed: Oct 25
Last Checked: Nov 10 at 7:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of G.E. Grace & Company, Inc.
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Investment Insights
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This residential development opportunity is located at 1439 Bassett Avenue in the Bronx. The 15,000 SF site, comprised of four contiguous lots, offers a potential 69,000 BSF residential development. It is situated directly across the street from the future Morris Park Metro-North station, which is part of the Metro-North Penn Station Access Project, with an estimated completion around 2027. The property was recently rezoned as part of the Metro-North initiative and is located within a Mandatory Inclusionary Housing (MIH) area. The site is zoned C4-4, with a residential equivalent of R7-2. With MIH Option 2 compliance, the property can achieve a residential FAR of approximately 4.6. The zoning supports medium-density residential development subject to MIH requirements, with potential for ground-floor commercial uses where permitted. The development site is comprised of four contiguous tax lots: 1431 - 1439 Bassett Avenue, Bronx, NY, identified as Block 4209, Lots 51, 53, 54, and 55. Existing industrial structures are present on the site, some of which are occupied by tenants on month-to-month leases. The location offers proximity to Albert Einstein College of Medicine, Montefiore Medical Center, and surrounding medical and institutional uses. This site's scale, zoning, assemblage, and immediate adjacency to planned rail infrastructure make it well suited for transit-oriented residential development.
Key Highlights
- Directly across from the future Morris Park Metro‑North station (estimated completion in 2027) providing planned direct rail access to Penn Station.
- 69,000 BSF residential development opportunity on a 15,000 SF site.**
- Recently rezoned as part of the Metro‑North initiative, allowing for increased development potential.
Property Analytics
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Location Intelligence
Trade Area within ½ mile
4,740
Businesses Nearby
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Business Placement
Demographics for 10461, NY
54,901
Population
20,418
Households
2.7
Avg Household Size
38
Median Age
27%
College-Educated
82%
High-School Grad
2.4 sq mi
ZIP Area
22,875
Density / Sq Mi
$65,023
Median Household Income
$45,445
Median Earnings
$1,741
Median Rent
$640,400
Median Home Value
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Frequently Asked Questions
What type of property is this?
Residential land & home lot - Residential development site near upcoming Metro-North station.
Where is this residential land & home lot located?
The property is located at 1437 Bassett Ave Bronx, NY.
What is the asking price?
The asking price for this property is $8,500,000.
What are key features of this property?
This property features: Directly across from the future Morris Park Metro‑North station (estimated completion in 2027) providing planned direct rail access to Penn Station.; 69,000 BSF residential development opportunity on a 15,000 SF site.**; Recently rezoned as part of the Metro‑North initiative, allowing for increased development potential.
