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BKREA has been selected by Himmel + Meringoff Properties and Affinius Capital to market 1601 Bronxdale Avenue, a fully entitled, large-scale development site in the Bronx with the potential to accommodate more than 2,300 apartments. The 7.4-acre property is positioned to become a major mixed-use residential destination adjacent to the future Parkchester/Van Nest Metro-North station.
The proposed development encompasses approximately 2.42 million square feet across six buildings, combining residential units with neighborhood-serving retail, a supermarket, community facility space, parking, and open space. The assignment highlights BKREA's expertise in large-scale investment sales, development site marketing, and opportunities shaped by zoning changes and future transit infrastructure.
The fully entitled site offers a planned 2.42 million-square-foot development across six buildings, with the potential to deliver more than 2,300 apartments.
The property sits directly adjacent to the future Parkchester/Van Nest Metro-North station, expected to provide an approximately 21-minute trip to Penn Station when it opens in 2027.
The property currently contains an approximately 354,309-square-foot industrial building leased to a diversified mix of industrial and commercial tenants, generating income while offering additional leasing upside.
The site's development potential was enabled by approvals secured through New York City's Bronx Metro-North rezoning initiative, demonstrating the importance of zoning expertise in identifying and positioning major development opportunities.
The proposed project includes a supermarket, local retail, community facility space, 640 accessory parking spaces, an entry plaza, and open spaces designed to support the surrounding Parkchester community.
The exclusive assignment is being led by Bob Knakal, Chairman and CEO; Genessy Jaramillo, Managing Director; Christian Sweeney; and Julia Perrone, reflecting BKREA's focus on complex, large-scale development opportunities.
The 1601 Bronxdale Avenue assignment demonstrates how land scale, zoning entitlements, existing income, and future transit connectivity can combine to create a significant development opportunity. With its approved plans and strategic location, the property offers prospective buyers the opportunity to pursue a major residential project while contributing to New York City's housing supply.
What is 1601 Bronxdale Avenue?
It is a 7.4-acre, fully entitled development site in the Bronx planned for a large-scale, mixed-use residential project.
Who owns the property?
The property is owned by joint venture partners Himmel + Meringoff Properties and Affinius Capital.
What is the proposed development size?
The approved plan provides approximately 2.42 million square feet across six buildings, with the potential for more than 2,300 apartments.
What makes the property attractive to investors?
Its development entitlements, existing industrial rental income, substantial land area, and proximity to a future Metro-North station create a combination of current income and long-term development potential.
Who is leading the BKREA assignment?
The exclusive assignment is being led by Bob Knakal, Genessy Jaramillo, Christian Sweeney, and Julia Perrone.
What is the main takeaway from this assignment?
The property illustrates how strategic zoning approvals, transit-oriented planning, and experienced brokerage representation can position a large-scale development site for a major transformation.
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