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883 Bryant Ave The Bronx, NY 10474

Sponsored
For Sale
$4,500,000

8-story, 41-unit senior housing project.

Property size:
25,523 SF

Description

Added:
Dec 11, 2024
Days on Market:
391
This exceptional investment opportunity presents a stalled construction site at 883 Bryant Avenue in the Bronx, New York. Currently configured as an eight-story, mixed-use building encompassing 25,523 square feet, the property is designed to house 41 units, including 40 residential units and one community facility. The asking price is $4,500,000, translating to $176 per square foot. The building boasts an impressive Net Operating Income (NOI) of $583,307. Situated on a 5,000 square foot lot, the property is zoned ZFA. The building features elevator access, a shared laundry room, Wi-Fi in common areas, a recreation room, and security cameras. Select units offer patios or balconies. Interior finishes include hardwood flooring, granite countertops, white laminate cabinets, and stainless steel kitchen appliances. This prime location offers excellent accessibility, with proximity to the Hunts Point and Intervale Avenue subway stations and a future Metro-North station. The 421a tax abatement is renewed until 2031, providing significant long-term tax benefits. This is a rare chance to acquire a substantial multifamily development project in a rapidly growing area of the Bronx, poised for significant appreciation. The property is currently vacant, allowing for immediate completion and occupancy.

Property Features for 883 Bryant Ave

General Information

Property type
Retirement homes
Square Feet
25,523 SF

Building Details

Buildings
1
Stories
8
Units
41

HighLights

  • Mid‑construction, eight‑story mixed‑use building with 40 residential units and one community facility, featuring a 421a tax abatement renewed until 2031.
  • 25,523 square foot building on a 5,000 square foot lot, zoned ZFA, with an asking price of $4,500,000 ($176/SF) and a projected NOI of $583,307.
  • Building amenities include elevator access, shared laundry, common area Wi‑Fi, recreation room, and security cameras.
  • Interior finishes include hardwood floors, granite countertops, white laminate cabinets, and stainless steel appliances; select units offer patios or balconies.
  • Excellent location near Hunts Point and Intervale Avenue subway stations, and a future Metro‑North station.
  • Currently vacant, allowing for immediate completion and occupancy.
Property Profile Location Intelligence

Current Use by Public Records

Retirement homes

Suggested Use

Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Gym & Fitness

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
The Bronx
County
Bronx
State
New York
Longitude
-73.8870665
Latitude
40.8193753

FAQs

What type of property is this?
Retirement home - 8-story, 41-unit senior housing project.
Where is this retirement home located?
The property is located at 883 Bryant Ave The Bronx, NY.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Mid-construction, eight-story mixed-use building with 40 residential units and one community facility, featuring a 421a tax abatement renewed until 2031.; 25,523 square foot building on a 5,000 square foot lot, zoned ZFA, with an asking price of $4,500,000 ($176/SF) and a projected NOI of $583,307.; Building amenities include elevator access, shared laundry, common area Wi-Fi, recreation room, and security cameras.
More about this property
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