Developer files plans for 43-unit South Bronx building

The 31K sf apartment building will fill previously vacant land
By Ben St. Clair | February 24, 2017 04:00PM

1181 Sherman Avenue (Cedit: Google Maps)

Private developer Paul Gjonaj filed plans to build a 43-unit apartment building in the South Bronx, according to property records filed with the city Friday.

The proposed six-story, 30,749-square-foot building at 1181 Sherman Avenue lies on a vacant lot just east of the Grand Concourse and south of 167th Street. Plans show the building would feature eight apartments on each of the top five floors and a recreation room on the first floor. Badaly Architects will design the project.

Gjonaj purchased the property earlier this year, records show, for just under $1.5 million.

The development comes at time when investors and developers have shown an increased interest  in Bronx real estate. According to a report released by the borough president, $2.3 billion of investment flowed into the Bronx in 2015, most of which went to residential development.