The "Bronx Super Lots" consist of 11 vacant lots spanning a combined 196,495 SF, with up to 984,440 buildable SF with City of Yes, in High Bridge, Bronx.
INVESTMENT HIGHLIGHTS
1. City of Yes Housing Opportunity
• Potential to build up to 1 million square feet
• Benefits from increased floor area, building height and bulk allowances, and reduced parking requirements
2. Location
• Located in the Highbridge neighborhood of the South Bronx
• Easy highway access to: I-87 (Major Deegan Expressway) — ~3-minutes drive & I-95 (Cross-Bronx Expressway) — ~5-minute drive
• Public transit connectivity: 4 , B , D subway lines & Bx11, Bx13, Bx18 bus lines within walking distance
• Less than 25 minutes to Midtown Manhattan
3. Neighborhood Developments
• Recent surge in residential development, driven by city policy, strong demand for affordable housing, and institutional investment
• Nearby substantial affordable housing projects along the Jerome Avenue corridor, one of NYC’s most active affordable and mixed-income development zones
4. Tax Benefits
• Opportunity to leverage 485-x Property Tax Abatement and Low-Income Housing Tax Credits (LIHTC) when incorporating affordable housing components
• Located in a Qualified Opportunity Zone
• The Site’s situation within an Environmental Zone (En-Zone) makes it a great candidate for consideration for New York’s Brownfield Cleanup Program (the BCP), as properties located within En-Zones provide a gateway for the property to qualify for the lucrative tangible property tax credits through the BCP, and can provide for increased credit consideration
• The BCP can provide tax credits and liability protections for qualifying sites of up to $35 million dollars for the tangible property tax credit
5. Comprehensive Due Diligence
• Pre-development materials available including: Surveys, Zoning & Massing Studies with City of Yes scenarios, Environmental Reports, & Geotechnical Studies