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New York & Tri-State   /   May 3, 2021

Paul Bubny
By: Paul Bubny

Zoning Change Opens New Possibilities for Bronx Warehouse

Cushman & Wakefield is marketing the sale of a recently rezoned warehouse at 1139 Webster Ave. in the Bronx’s Concourse Village neighborhood. A Cushman & Wakefield team of Jonathan Squires, Josh Neustadter and Michael Fioravanti will lead marketing efforts. 

“This property has historically been operated as an industrial warehouse and is one of many examples of a zoning change from industrial to residential in order to encourage the development of affordable housing,” said Squires.

“Considering demand for Bronx industrial and development assets has never been higher, we expect the site to be purchased as either a warehouse, a development site or as a covered land play.”

The site currently features an industrial warehouse with zoning that was changed recently, giving it 50,000 buildable square feet of residential and retail development rights. The 100’ by 100’ site’s zoning resolution designates it as located in a Mandatory Inclusionary Housing District.

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About the Author

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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