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New York & Tri-State  + Uptown/Bronx  + Apartments  | 

Parcel Comes to Market Along Rezoned Jerome Ave. Corridor

Ariel Property Advisors has been retained to sell a development site at 1408 Cromwell Ave. in the Bronx, along the Jerome Avenue corridor that has just been rezoned. The firm’s Jason M. Gold, Michael A. Tortorici and Daniel Mahfar are representing the owner, with an asking price of $3.5 million.

The rezoned vacant lot is located between Cromwell and Inwood avenues, just off the corner of West 170th Street in the Bronx’s Mount Eden section, and provides 57,762 buildable square feet as of right. The Jerome Avenue rezoning aims to bring more residential units, specifically affordable housing, to an area that has been known mainly for commercial and industrial use.

“The rezoning should kick-start a tremendous amount of development for Mandatory Inclusionary Housing within this up-and-coming submarket in The Bronx,” said Gold. “We are excited to see how this rezoning will bolster Mayor de Blasio’s affordable housing initiative.”

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About Paul Bubny

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. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Development
  • ◦Sale/Acquisition