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BKREA has been exclusively retained to arrange the sale of 1601 Bronxdale Avenue, a 7.42-acre industrial and flex property in the Parkchester neighborhood of the Bronx. The institutional-scale asset combines stable in-place cash flow with approximately 2.42 million square feet of long-term redevelopment potential, making it one of the most significant covered land opportunities currently available in New York City.
The property occupies a 323,062-square-foot site with 292 feet of frontage along Bronxdale Avenue and is improved with a 354,309-square-foot, two-story industrial building featuring second-floor office space and an on-site parking deck. The property is leased to a diversified mix of industrial and commercial tenants, providing existing income while offering additional value through leasing vacant industrial space and parking at market rents.
The property could support a proposed development program of approximately 2.42 million square feet across six buildings, including approximately 2,200 residential units, 141,000 square feet of retail, office, and community facility space, and 640 accessory parking spaces.
The offering combines a 354,309-square-foot industrial and flex building with a 7.42-acre site, providing investors with both an operating asset and substantial long-term redevelopment potential.
The property's diversified tenant base provides durable in-place income, while vacant industrial and parking space creates opportunities to increase revenue through leasing at market rents.
The property is located adjacent to the future Parkchester/Van Nest Metro-North Station, scheduled to open in 2027. The station is expected to significantly improve regional connectivity, including an approximately 21-minute trip to Penn Station.
Immediate access to the Bronx River Parkway and Interstate 95 positions the property for last-mile distribution and regional logistics throughout the New York metropolitan area.
The M1-1A/R7-3 zoning allows a broad range of industrial, commercial, and office uses, while additional zoning and city programs may provide opportunities to enhance the property's future development potential.
The exclusive marketing assignment is being led by Bob Knakal, Seth Samowitz, Genessy Jaramillo, and Christian Sweeney, combining BKREA's investment sales expertise with specialized knowledge of New York City development opportunities.
1601 Bronxdale Avenue represents a rare opportunity to acquire an income-producing industrial property while controlling a major future development site. The combination of institutional scale, existing cash flow, flexible industrial space, transit improvements, and substantial residential development potential creates multiple paths for long-term value creation.
The property's location adjacent to the future Metro-North station further strengthens its investment profile, while its proximity to Interstate 95 and the Bronx River Parkway supports continued demand for industrial and logistics uses.
According to Genessy Jaramillo, Managing Director of BKREA:
"Opportunities of this scale simply do not come to market very often."
The offering reflects the growing importance of identifying assets that combine current income with future redevelopment potential, particularly in supply-constrained New York City submarkets.
1601 Bronxdale Avenue is a 7.42-acre industrial and flex property in the Parkchester neighborhood of the Bronx.
The site offers approximately 2.42 million square feet of proposed future development potential across six buildings.
The proposed development program includes approximately 2,200 residential units.
The property is improved with a 354,309-square-foot, two-story industrial building with second-floor office space and an on-site parking deck.
The planned Parkchester/Van Nest station is expected to substantially improve regional connectivity and provide an approximately 21-minute trip to Penn Station.
BKREA has been exclusively retained to market the property. The assignment is being led by Bob Knakal, Seth Samowitz, Genessy Jaramillo, and Christian Sweeney.
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