1905 Vyse Ave The Bronx, NY 10460

This exceptional development opportunity presents two adjacent lots totaling 7,238 square feet at 1903-1905 Vyse Avenue in the Bronx, New York. The combined 50-foot frontage and 144-foot depth offer significant potential for a substantial residential project. Zoned R7-1 with a 3.44 floor area ratio (FAR), the site allows for up to 25,000 square feet of zoning floor area (ZFA). This translates to the possibility of constructing an eight-story building with approximately 36 residential units. The property's strategic location, steps from the West Farms & Boston Road subway station, provides convenient access to Manhattan in approximately 35 minutes, enhancing its appeal to potential residents. Furthermore, the site is eligible for the 485-x Affordable Neighborhoods for New Yorkers (ANNY) tax abatement program, making it a particularly attractive investment for rental developers seeking to capitalize on the growing demand for affordable housing in the area. The existing vacant buildings allow for immediate development, minimizing delays and maximizing return on investment. This is a unique opportunity to build in a rapidly developing neighborhood poised for significant growth and profitability. The asking price is $2,250,000.