883 Bryant Ave The Bronx, NY 10474
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8-story, 41-unit senior housing project.
Property size:
25,523 SFProperty Features for 883 Bryant Ave
General Information
- Property type
- Retirement homes
- Square Feet
- 25,523 SF
Building Details
- Buildings
- 1
- Stories
- 8
- Units
- 41
Listing Agency: Ripco Real Estate Listing Agent: Brian Whelan
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
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 Profile
Insight Report
Location Intelligence
Current Use by Public Records
Retirement homes
Location Insight
- Map
- Local Demand
- City
- The Bronx
- County
- Bronx
- State
- New York
- Longitude
- -73.8870665
- Latitude
- 40.8193753
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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.
