3242 Riverdale AveThe Bronx, NY 10463

This exceptional 10,815 square foot development site at 3242 Riverdale Avenue in the Bronx, New York (zip code 10463), presents a unique investment opportunity. The property boasts an as-of-right zoning entitlement (R6) allowing for the construction of a substantial 32,445 square foot residential building. Further development potential exists, with the possibility of increasing the buildable square footage to 51,912 square feet by incorporating a community facility. The land is priced at $90 per square foot, resulting in an asking price of $2,900,000. Currently situated on the lot is a two-story, 2,304 square foot house, which will be delivered vacant upon closing. This property offers developers a chance to capitalize on the strong demand for residential units in this desirable Bronx location. The site's location at 40.8836446 latitude and -73.9074017 longitude provides excellent accessibility and visibility. This is a rare opportunity to acquire a sizable development parcel with significant upside potential in a rapidly growing area. The existing structure provides immediate income potential or can be easily demolished to make way for new construction. Don't miss this chance to secure a prime piece of Bronx real estate.