April 28, 2017

A developer paid $1.5 million for a vacant lot at 3188-3192 Villa Ave. in the Bedford Park section of the Bronx.

“With its size, attractive zoning and coveted location, this development site is a rare opportunity, offering the investor the ability to quickly capitalize on Bedford Park’s thriving residential market,” said Marko Agbaba, director at Ariel Property Advisors, which facilitated the sale.

Zoned R8, the property permits for 36,644 buildable square feet as-of-right, and 39,566 buildable square feet if community facility use is incorporated. The 50-foot wide lot is in the historic section of Bedford Park between Jerome Avenue and Grand Concourse, an area known for its striking villa-style residences.

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