1314 Seneca AveThe Bronx, NY 10474

Property Details for 1314 Seneca Ave

Property size (Sq ft)

65,137 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

This exceptional six-story mixed-use property at 1314 Seneca Avenue in the Bronx, New York, offers a unique investment opportunity. The building encompasses a substantial 65,137 square feet situated on a 15,000 square foot lot and is zoned R6. The property comprises 62 units, including 60 residential apartments and two occupied commercial spaces. The residential mix includes 16 one-bedroom, 26 two-bedroom, 15 three-bedroom, and 3 four-bedroom units. A significant advantage is the current Article XI tax abatement, providing substantial tax savings. This 40-year abatement, initiated in 2018, caps taxes at 1% of gross rent until 2028 and 6.5% until 2058. The property benefits from a recently approved 610 amendment to the existing regulatory agreement, paving the way for considerable future revenue increases. Its convenient location near multiple subway lines (2/5/6) and major roadways like the Bruckner Expressway and Westchester Avenue ensures excellent accessibility to Westchester County and other boroughs. This property presents a compelling investment prospect with strong potential for long-term growth and profitability. The building is located in Bronx County, NY, 10474.

Location Insight

City

The Bronx

County

Bronx

State

New York

Latitude

40.8187

Longitude

-73.887

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