The Real Deal New York

Stagg Group files plans for latest Bronx resi project

One of borough's most active developers bringing 116 units to Norwood

October 15, 2015 05:30PM
By Rey Mashayekhi

3084 Webster Avenue Bronx

3084 Webster Avenue in the Bronx (inset: Mark Stagg)

Prolific Bronx development firm Stagg Group filed plans Wednesday for a 116-unit residential project in the borough’s Norwood section.

Behind the story:

Stagg Group

The new 11-story building, at 3084 Webster Avenue between East 202nd and East 203rd streets, will span more than 116,000 square feet, according to the filing.

The property will hold more than 4,000 square feet of ground-floor retail, while 112,000 square feet of residential space will have amenities such as an exercise room and recreation rooms.

Each of the second through ninth floors in the building will house 12 apartments, while the 10th and 11th floors will each have 10 units. The project will also include enclosed parking holding 22 cars, as well as additional outdoor parking.

The development is expected to be an 80-20 building featuring a 20 percent affordable housing component, the New York Observer reported earlier this year.

Stagg Group purchased the site, which also includes adjoining parcels at 410-414 East 203rd Street, from L+M Development Partners for $4.1 million in December. The location is currently home to a two-story warehouse and a parking lot.

The firm, led by CEO Mark Stagg, placed fifth on The Real Deal’s ranking last month of the Bronx’s most active developers. The project at 3084 Webster Avenue is at least the 17th project in the borough for Stagg Group since 2011. The firm has planned or built around 1,000 residential units spanning more than 800,000 square feet in that time, according to a TRD analysis of permit applications.