EXCLUSIVE OFFERING — 3020, 3022 & 3026-3028 Corlear Avenue | Kingsbridge, Bronx NY 10463 | Block 5709, Lots 16, 17 & 18 https://corlearlistingposter.netlify.app/ OPPORTUNITY OVERVIEW A rare four-lot contiguous assemblage offering 13,776 SF of land with 100.92 linear feet of unbroken Corlear Avenue frontage and a uniform 136.5-foot lot depth across all three parcels. The existing circa-1901–1920 residential structures carry minimal improvement value — this is effectively a development land acquisition. Unified family ownership across all three addresses provides a clean, uncomplicated path to closing with a single Purchase & Sale Agreement. DEVELOPMENT POTENTIAL R6 zoning with City of Yes Universal Affordability Preference (UAP) bonus delivers 49,594 buildable SF (FAR 3.60), supporting 55–65 residential units in a 6–8 story ground-up building. Rezoning to R7-1 via ULURP creates upside to 63,370 BSF (FAR 4.60), supporting 70–85 units. The uniform 136.5-foot lot depth creates a full, rectangular development envelope superior to irregular or flag-lot assemblages common in this market. Zoning Summary: - R6 Base (As-of-Right): FAR 2.43, 33,474 BSF, 38–45 units - R6 + Inclusionary Housing: FAR 3.00, 41,328 BSF, 48–56 units - R6 + City of Yes UAP: FAR 3.60, 49,594 BSF, 55–65 units - R7-1 + UAP (Rezoning Upside): FAR 4.60, 63,370 BSF, 70–85 units PRICING Asking: $5,250,000 | $106/BSF (R6 UAP basis) | $83/BSF (R7 basis) Current Bronx development land market: $107–$140/BSF (Ariel Property Advisors, 2024–2026). This portfolio is priced at or below market — providing a defensible acquisition basis for both affordable and market-rate development programs. PROPERTY DETAILS - Total Lot Area: 13,776 SF (3 parcels / 4 lots) - Street Frontage: 100.92 linear feet (unbroken) - Lot Depth: 136.5 ft (uniform across all parcels) - Zoning: R6 | Community District: CD 8 | Council District: CD 11 - BBL: 2-5709-16 | 2-5709-17 | 2-5709-18 - Existing GFA: 3,778 SF total (minimal improvement value) - Transit: 1 Train — 231st & 238th Street stations (25 min to Midtown) - Ownership: Fee Simple | Unified family ownership | Clean title MARKET CONTEXT — KINGSBRIDGE - Tishman Speyer: 339-unit, 279,000 SF residential building under construction at 160 Van Cortlandt Park South (broke ground Dec 2024) - Kingsbridge Armory — "El Centro": 570,000 SF armory unanimously approved by NYC City Council (Oct 2025) for conversion to community hub + 500 residential units. Construction begins 2027 - Active new construction: 45-unit, 7-story building permitted at 3242 Riverdale Ave (May 2025) — directly comparable R6 project, same neighborhood - Bronx development land volume: +39% YoY in 2024, +70% YoY in H1 2025 (Ariel Property Advisors) - Bronx avg $/BSF hit record $107 in 2024 — new all-time high COMPARABLE TRANSACTIONS - 1876-1880 University Ave, Bronx (Active 2026): $4M / ~28,500 BSF = $140/BSF — smaller lot, same market - 36 Bruckner Blvd, Mott Haven (Oct 2024): $9.85M / 75,250 BSF = $131/BSF - 114 Bruckner Blvd, Mott Haven (Dec 2025): $7M / 57,190 BSF = $122/BSF TRANSACTION TERMS - Asking Price: $5,250,000 - Earnest Money Deposit: 1% ($52,500) - Due Diligence Period: 45 Days - Closing Period: 90 Days - Ownership: Fee Simple - Sale Type: Portfolio (all 3 lots conveyed simultaneously) - Broker Commission: Seller will only pay commission to its selling representative broker/agent - Buyer Broker to obtain commission from purchaser/buyer. BROKER Francis Caamano | Licensed Real Estate Broker 917-209-6757 | francisacaamano@gmail.com Also listed on Crexi: crexi.com/properties/2497628