For Sale
$1,150,000

3848 Bailey AveThe Bronx, NY 10463

Bronx development site: prime location, high potential.

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional development opportunity in the Bronx, New York, presents a 3,134 square foot lot zoned R7-1 Wide Street, offering a significant 12,536 buildable square feet as-of-right. The property, located at 3848 Bailey Avenue, is conveniently situated just 0.3 miles from the 238th Street subway station, providing easy access to Manhattan. Currently improved with a vacant two-family dwelling, the site is ready for immediate development. The deep and wide lot (27.37' x 115') allows for the construction of an eight-story building with an estimated 18 residential units. This project is further enhanced by eligibility for the 485-x tax abatement under the Affordable Neighborhoods for New Yorkers (ANNY) program, providing substantial tax incentives for developers focused on rental housing. The strong residential market in Kingsbridge and the potential for significant returns make this a compelling investment for developers and investors seeking to capitalize on the Bronx's growth. The asking price is $1,150,000.

Highlights

  • 27,370 square foot R7-1 zoned lot (WS).
  • Potential for an 8-story, 18-unit building.
  • Vacant, two-family brick building.
  • 0.3 miles from subway station.
  • Desirable Kingsbridge residential market.

Property Details for 3848 Bailey Ave

Property type
Land

Location Insight

City
The Bronx
County
Bronx
State
New York
Latitude
40.885237273445
Longitude
-73.896054991997
3848 Bailey Ave, The Bronx, New York

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3848 Bailey Ave
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