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BKREA has been selected by Himmel + Meringoff Properties and Affinius Capital to market 1601 Bronxdale Avenue, a fully entitled, 7.4-acre development site in the Bronx. The property is planned for a major transit-oriented, mixed-use development featuring 2.42 million square feet across six buildings, with thousands of new homes and direct pedestrian access to the forthcoming Parkchester/Van Nest Metro-North station.
The assignment highlights BKREA's expertise in large-scale development sites, strategic property positioning, and opportunities created by New York City's evolving zoning and transit infrastructure. The joint venture acquired the property in 2019 and subsequently secured development approval through the Bronx Metro-North rezoning initiative.
The 7.4-acre site offers a planned 2.42 million square feet across six buildings, creating the potential for a substantial mixed-use residential destination.
Direct pedestrian access to the forthcoming Parkchester/Van Nest Metro-North station positions the property to benefit from improved regional connectivity.
The project has secured approval for a large-scale mixed-use development, providing prospective buyers with an established development framework.
The proposed project includes thousands of homes, a supermarket, local retail, community facility space, 640 accessory parking spaces, an entry plaza, and open spaces.
The Bronx Metro-North rezoning initiative played a central role in enabling the property's approved development plan, highlighting the importance of understanding zoning regulations and land-use policy.
The assignment reflects BKREA's focus on complex investment sales opportunities that combine significant land area, development potential, and long-term market fundamentals.
The 1601 Bronxdale Avenue assignment demonstrates the growing importance of transit-oriented development in New York City. The combination of substantial development scale, approved plans, and a future Metro-North connection creates a compelling opportunity for investors seeking to participate in the Bronx's continued transformation.
According to Bob Knakal, Chairman and CEO of BKREA, the property combines an operating industrial asset, significant land area, a major future transit connection, and the potential to create thousands of new homes.
What is 1601 Bronxdale Avenue?
It is a large-scale, fully entitled development site in the Bronx planned for a mixed-use project with residential, retail, and community facility components.
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 development plan provides approximately 2.42 million square feet across six buildings.
What makes the site attractive to developers?
Its scale, approved development plans, mix of proposed uses, and planned connection to the future Parkchester/Van Nest Metro-North station make it a significant transit-oriented development opportunity.
Why was BKREA selected?
BKREA was selected to market the property, bringing its investment sales expertise to a large-scale development opportunity shaped by zoning changes and future transit infrastructure.
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