The South Bronx is finally seeing the first glimpses of large, market-rate development, and one hotel developer has taken the plunge by filing new building applications for a 13-story apartment building at 477 Gerard Avenue in Mott Haven, next to his under construction hotel at 500 Exterior Street.
Rye, NY-based Woodbine Company has purchased the development site at 34 East 62nd Street, on the Upper East Side, for $11.9 million from Russian developer Janna Bullock. Back in 2007, she filed permits for a five-story townhouse, but plans stalled out. The vacant property has 8,000 square feet of development rights, but can be expanded by 6,000 square feet with the purchase of additional air rights. No new building applications have been filed.
Nathan Lenchevsky has filed applications for a four-story, six-unit residential building at 1346 46th Street, in central Borough Park, four blocks from the D train’s stop at 50th Street. The building will measure 8,813 square feet, making for a specious average units of 1,470 square feet apiece. Rockland County-based Kenneth Thomas is the applicant of record, and an existing three-story home must first be demolished.
Greenwich Village-based Wavbuilders, LLC, has filed applications for a four-story, four-unit residential building at 132 Waverly Avenue, in northern Clinton Hill, four blocks from the G train’s stop at Washington Avenue. The building will measure 6,210 square feet in total, and full-floor units will likely be condominiums, averaging 1,552 square feet each. Clinton Hill-based Brent Porter & Associates is the applicant of record.
The City University of New York’s graduate center has purchased the vacant lot at 5-17 47th Avenue, in Long Island City, from O’Conner Capital Partners for $22.5 million, according to The Wall Street Journal. CUNY plans to build a dormitory for graduate students and faculty. The property could accommodate a building of six stories and 200 residential units, and is located a few blocks from subway stations for the 7 and G trains.
