Just as Chetrit Group and Somerset Partners threw a rather unfortunate party under the Third Avenue Bridge in Mott Haven to promote their two upscale highrises in the South Bronx neighborhood, a smaller developer filed plans for a five-story mixed-use building a few blocks away at 2490 Third Avenue.
The development will reach 54 feet into the air on a lot bounded by Third Avenue, Lincoln Avenue, 136th and 137th Streets, just north of the Major Deegan Expressway. Forty apartments will be stacked on top of 6,500 square feet of ground floor retail. Twenty percent of the units will rent at below-market rates, because the developer gets to build bigger in exchange for including some affordable apartments.
The residential portion will be split across 26,922 square feet, yielding rental-sized apartments averaging 673 square feet. Each of the upper floors will hold 10 units. The cellar will be devoted to storage and 20 bike parking spots, and there won’t be a garage because the project is too small to trigger the city’s parking requirements.
Altmark Group, headed by Moshe Altmark, is the developer. The firm is headquartered at 2447 Third Avenue, just two blocks south of their development site. They’ve hired Roslyn, N.Y.-based architect Shahriar Afshari to handle the design.
Altmark picked up the 7,443-square-foot site for a combined $650,000 in two separate sales over the summer, paying $21 for each buildable square foot.
A car wash occupies the property, and it has been there since at least the 1970s, based on old tax photos. Demolition plans haven’t yet been filed to knock it down.
Since June, YIMBY has seen nearly a dozen residential projects planned in Mott Haven, several of which are market-rate. That includes Chetrit’s two 25-story towers next to the Third Avenue Bridge, partially affordable rentals on East 138th Street, supportive housing, a third 25-story tower from a different developer, and a 12-story market-rate building on East 132nd Street.