June 25, 2019 Comments Off on Development Site Comes to Market in Heart of Jerome Ave. Rezoning Views: 319 New York News, Uptown/Bronx New York

Development Site Comes to Market in Heart of Jerome Ave. Rezoning

Cushman & Wakefield is marketing for sale a block-through development site in the Bronx. The site at 1475 Macombs Rd. and 1450 Cromwell Ave. could accommodate a 115,949-square-foot mixed-use building under the rezoning enacted in 2018.

Jonathan Squires is leading the Cushman & Wakefield team marketing the property on the seller’s behalf. “The acquisition of 1475 Macombs represents a rare opportunity to build over 100,000 square feet in the Bronx,” he said. “Although the Jerome Avenue rezoning was implemented over a year ago, only three major sites have been scheduled for development.”

The two adjacent properties are located between West 170th and West 172nd streets, combining to offer a 158-foot by 182-foot irregular lot feet. The site is located in the heart of the Jerome Avenue rezoning which spans 72 blocks.

Currently, a parking lot tenant is paying $106,296/annum through December 2022, with a 90-day termination clause.

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