The Real Deal New York

$30M Bronx waterfront site could give way to big resi towers

University Heights parcel has nearly 1 million square feet of developable rights
November 19, 2014 12:00PM

A tract of waterfront property in the North Bronx’s University Heights, known to some as Fordham’s Landing, is being pitched as the perfect site for a massive residential tower development.

The property, which is located at 320 West Fordham Road along the Harlem River,  is on the market for $30 million. Massey Knakal Realty Services, which has the listing, said the buyer would acquire the rights to build nearly 1 million square feet of residential living space, according to the New York Daily News.

Massey Knakal’s Karl Brumback called the listing a “game-changer” for the North Bronx.

Brumback envisions four or five residential towers with a mix of market rate and affordable housing. But Friedland Realty Advisors analyst Steve Lorenzo said developers would be required to build a community-accessible feature to maximize the buildable space, the newspaper reported. [NYDN]TRD