41'
Frontage
29,546
BSF
$80
PPBSF
R7-1
Zoning
$3,659
ANNUAL TAX BILL

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INVESTMENT HIGHLIGHTS

Invictus Property Advisors is pleased to announce the closing of 1884 University Avenue, a block-through development site in the Morris Heights section of the Bronx.

Invictus was retained to market a contract assignment with a mandate to identify a developer capable of closing in less than 30 days, time being of the essence. The 41-foot-wide site included 12,982 buildable square feet of air rights assembled from the neighboring parcel, bringing the total development potential to approximately 29,546 buildable square feet as-of-right and 33,728 buildable square feet under UAP.

The transaction closed at approximately $80 per buildable square foot based on the as-of-right ZFA.

Feel free to reach out to us if you’d like to discuss this transaction or the market more generally.

Bronx Development

INVESTMENT HIGHLIGHTS

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Josh Lipton

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