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RXR Breaks Ground on Inaugural South Bronx Development
RXR Realty broke ground Wednesday on its inaugural South Bronx development, a future residential building located at 2413 Third Ave. Situated next to the Third Avenue Bridge and convenient to the 6 train, the 27-story, 200-unit tower wis slated for completion in 2023.
This summer, RXR and Bank of America closed on a $75.2- million construction loan to fund the development of 2413 Third. The transaction was driven by RXR’s development track record, and the rare opportunity to develop within a prime waterfront neighborhood with generous park and green space.
“As the South Bronx’s population grows, RXR welcomes the opportunity to meet this demand and provide accessible, smartly designed and amenitized homes,” said Joanne Minieri, Senior EVP, COO of development and construction, RXR. “RXR is fully committed to working in partnership with the community to increase local hiring and activate the neighborhood through direct investment.”
- ◦Development
