1311-1321 Webster Avenue Bronx, NY 10456

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1311-1321 Webster Avenue Bronx, NY 10456

$8,000,000.00

  • 19,700 Lot Size with R7-1/C2-4 Zoning
  • Wrap Around Frontage of Nearly 300 Feet
  • 197 Feet on Webster Avenue
  • Next to Bronx-Lebanon Hospital Center
  • Very Strong C-Town Supermarket Operator as Anchor Tenant
  • Shovel Ready Site with the Environmental Clean
  • Total Buildable of 105,460 Square Feet

Details

The development opportunity offers a lot size of 19,700 SF with a total buildable of 105,460 Square Feet, including retail, residential, and community facility opportunities. The site falls under the Fresh Food Program, which allows a developer to gain bonus development air rights when leasing to a Supermarket.

The Seller has signed a twenty-five (25) year lease with a strong C-Town Supermarket operator for a total of 10,900 square feet. The operator has over eight (8) current locations and real estate holdings. This adds a bonus residential development of 10,900 square feet to the total project whilst the tenant receives tax incentives as well.

The Seller has also cured all environmental issues and will be delivering the site free and clear with a no further action letter from DEC.  Furthermore, the seller will be delivering a certificate of approval for a twenty-five (25) year ICAP Tax Abatement. The site naturally falls under the 421-A Tax Abatement as well.

The development is well positioned with great access to public transportation such as the [B], [D], & [4] subway lines, buses, and highways such as the Grand Concourse.

Ownership has been very involved on delivering this site as close to shovel ready with preliminary plans, a signed retail lease, environmentally clean, and the ICAP Tax Abatement letter of approval. Ownership is setting the asking price to $8,000,000.

Additional Information

Asset Type

Development

City

Bronx

Neighborhood

Claremont

Price

$8,000,000

Building Size

19,700

Map

 

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Contact Info

215-15 Northern Boulevard,
3rd Floor
Bayside, NY 11361

Phone: 646.586.2091

Fax: 646.767.6790

Web: www.assetcrg.com