Most new construction in Melrose is affordable housing, but we recently spotted a small market-rate project in the works at 764 East 152nd Street, in the heart of the South Bronx.
This seven-story building would rise on an empty lot between Concord and Wales avenues, two blocks from the Jackson Avenue stop on the elevated 2 and 5 trains. There would be 19 apartments spread across 16,318 square feet of residential space, creating average units measuring 858 square feet.
The ground floor would host one unit and a parking garage, and then the upper floors would have three apartments each.
The parking lot would offer six spots, which is the minimum needed to satisfy the city’s car-heavy requirements.
Briarwood-based Gerald Caliendo is the architect, and the developer is Aviram Chen, who’s headquartered in Woodmere, N.Y.
The lot also sits across the street from NYCHA’s sprawling Adams Houses, which encompass seven 15- to 21-story buildings with 925 apartments.
Chen picked up the 4,200-square-foot property for $550,000 in January. That works out to just $33 for each square foot of his planned development.
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I’m ablaze with new project coming to the area, development is an abloom right now.
Sucks about the parking requirement. It’s going to take away big time from the street level of the structure.