2106 Washington Ave

Prized Bronx Development Opportunity calling! Recent census figures show The Bronx as the fastest growing borough in the city, with a population that has increased nearly a full percentage point in the past year. Affordable land is a significant factor in the boroughs recent upsurge in development activity. Currently, The Bronx has more than 13 million square feet of residential space under construction. Here is an opportunity to combine two lots into one and join the party. R6 zoning allows for a floor-to-area ratio of 3, meaning that one could build up to three times the square footage of the lot. Combining 2106 Washington Avenue and the parking lot next door creates a single property of 8754 square feet, which translates into development rights for 26,262 square feet of residential use, either as a condominium or a rental development. Proximity to Fordham University and Arthur Avenue add to the development appeal. Note that at present the property has three tenants, one paying month-to-month, and two on leases until August of 2019. This would allow plenty of time to plan and file for new construction. Do not hesitate to express interest, as offers are already coming in.