1932 Mcgraw Ave The Bronx, NY 10462
- Commercial real estate
- 16,000 SF
Current Use by Public Records
- Commercial real estate
Property Details for 1932 Mcgraw Ave
- Property size
- 16,000 SF
- Property type
- Commercial real estate
Description
This exceptional 3,817 square foot development lot, located at 1932 McGraw Avenue in the Bronx, NY (zip code 10462), presents a unique investment opportunity. The property boasts R6 zoning and a 2.43 FAR, allowing for the construction of over 16,000 buildable square feet, inclusive of neighboring air rights. Situated in the heart of Parkchester, this lot is ideally positioned between Metropolitan Avenue and Pugsley Avenue, just around the corner from Hugh J. Grant Circle, providing convenient access to the "6" Train subway line and a wealth of retail options along Westchester Avenue and Metropolitan Avenue. The property is suitable for a variety of development projects, particularly supportive housing or non-profit uses. The seller offers the option of purchasing the vacant lot or acquiring it with proposed plans already in place. These plans envision a 16,100 square foot building yielding 23 residential units and 6 open parking spaces. This prime location benefits from the ongoing revitalization of the Parkchester neighborhood, with several new projects underway nearby. The asking price for this exceptional development opportunity is $2,200,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- The Bronx
- County
- Bronx
- State
- New York
- Longitude
- -73.8597902
- Latitude
- 40.8345954
