The South Bronx is suddenly booming with new construction. Most of the action is happening along the waterfront in Mott Haven and Port Morris, but investors looking for cheaper properties have started paying attention to neighborhoods below the typical real estate radar, like Highbridge.
Gjek Popaj—who appears to be Albanian, like many small developers in the Bronx—plans to build a seven-story residential project at 1176 Nelson Avenue in Highbridge. The development would reach 64 feet into the air between West 167th and 168th streets, a couple of blocks east of the Major Deegan Expressway and the Metro-North Railroad tracks.
There would be 31 apartments squeezed into 22,662 square feet of residential space, for an average unit of 731 square feet. Each floor would hold between three and five units, and laundry and bike storage in the cellar would round out the building. Future tenants will also have access to a shared roof deck on the top floor.
The development will also include a nine-car outdoor parking lot, which is required by zoning if the building will be completely market-rate. Builders who choose to rent their apartments at below-market rates can forego the required parking, as long as they’re within half a mile of the subway, thanks to the mayor’s recently passed zoning changes.
Popaj picked up the 6,165-square-foot site for $500,000 in October 2015.
Fred Geremia Architects and Planners applied for the permits.
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