New York & Tri-State + Industrial | May 3, 2021

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 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 GlobeSt.com 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).

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