Project Description

For Sale: Multi-Family Redevelopment Opportunity in Bronx, NY

627 Underhill Ave, Bronx, NY 10473

Executive Summary:

Price: $1,050,000
Land Size: 9,467 SF
Zoning: R5
Lot Size: 0.25 Acres
Land PSF: $110.91
Price Per Acre: $4,772,727
APN: 03561-0071
Location: 627 Underhill Ave
Bronx, NY 10473

Key Highlights

  • 1 Family House That Can Be Redeveloped Into Multi-Family Housing
  • R5 Zoning – Great Redevelopment Opportunity
  • Close Proximity to Highways, Buses, and Trains
  • Local to Various Schools, Public Parks, Retail Amenities, & Hunts Point Market

About R5 Zoning

R5 zoning is a residential zone. It allows single family, two family, and multi family buildings. We consider Multi family as 3 families or more. In R5, you can often see 3 to 4 story attached row houses of 1, 2, or multiple families. In R5 properties, you will develop attached, semi-detached, and detached houses / buildings.

Attached Buildings – Attached buildings are buildings that sit directly on the 2 side lot lines and have no side yards, they can be attached to other buildings on 1 or 2 sides.

Semi-Detached Buildings – Semi-detached are buildings that are built on one side lot line and attached to 1 other building.

Detached Building – Is a building that has yards on all sides of the building and is not built on a property line.

About Bronx, NY

The Bronx is a borough of New York City, coextensive with Bronx County, in the U.S. state of New York. It is south of Westchester County; north and east of the New York City borough of Manhattan, across the Harlem River; and north of the New York City borough of Queens, across the East River. The Bronx has a land area of 42 square miles and a population of 1,472,654 in the 2020 census.

About a quarter of the Bronx’s area is open space, including Woodlawn Cemetery, Van Cortlandt Park, Pelham Bay Park, the New York Botanical Garden, and the Bronx Zoo in the borough’s north and center. The Thain Family Forest at the New York Botanical Garden is thousands of years old; it is New York City’s largest remaining tract of the original forest that once covered the city. These open spaces are primarily on land reserved in the late 19th century as urban development progressed north and east from Manhattan.

Contact Broker

Ron Koenigsberg - Commercial Real Estate BrokerRon Koenigsberg, CCIM
President
Ron@aiprops.com
(O) 516.393.2300
(F) 516.390.5780

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