As development pressure creeps uptown in Manhattan, we’re starting to see permit filings in neighborhoods that, in the past, builders would not have taken any chances on – like the section of Harlem east of Jackie Robinson Park.
Yesterday, a permit was filed for a new residential building at 2903 Frederick Douglass Boulevard, just south of West 154th Street, closer to Jerome Avenue in the Bronx than to Broadway.
There, Tomer Chen and Chaim Dahan, who listed an address on Avenue U in Sheepshead bay, are seeking to develop a six-story apartment building, likely rentals. Staten Island-based Jock deBoer is listed as the architect.
The building’s 14 apartments will be divided over less than 9,000 square feet of residential space, but at an average unit size of just 630 square feet – rentals if we’ve ever seen them. The structure will rise 70 feet into the air, with a double-height penthouse floor featuring a mezzanine space.
The 25-foot-wide lot on which the apartments will rise traded hands twice in 2014, first being sold to one LLC for $650,000 in February, and then onward to the current owner in July for $875,000, netting the first buyer a tidy 35 percent profit. The latest purchase price works out to just under $100 per buildable square foot, fairly cheap for land on the gentrifying fringe.
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