3242 Riverdale AveThe Bronx, NY 10463

Property Details for 3242 Riverdale Ave

Property size (Sq ft)

32,445 SF

Property type

Residential income properties

Property subtype

Other land

Description

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.

Location Insight

City

The Bronx

County

Bronx

State

New York

Latitude

40.8836

Longitude

-73.9074

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