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.