Bronx investor nearly doubles size of
Morris Heights resi project

Development at 29 Featherbed Lane will now span 116K sf with 160 units

New York /
Nov.November 14, 2018 03:30 PM

29 Featherbed Lane in the Bronx (Credit: Google Maps)

Thanks to a recent neighborhood rezoning, Bronx investor Arjan Gjushi is nearly doubling the size of his Morris Heights multifamily development.

Gjushi initially filed plans last summer for an eight-story project with 94 units for a vacant lot in at 29 Featherbed Lane. He then filed plans on Wednesday for a 12-story project with 160 units at the same address. The development will now span about 116,000 square feet rather than 61,000 square feet.

The developer said he’s expanding the project because of the Jerome Avenue rezoning that the City Council passed earlier this year. Gjushi said it will ultimately stand 14 stories tall and hopes to make the residential units affordable.

Other residential projects on their way to the Bronx include a 91-unit development from UA Builders at 2047 Ryer Avenue and a 128-unit development from Height Advisors at 951 Olmstead Avenue.


Related Articles

arrow_forward_ios
Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)

Here’s what the $10M-$30M NYC investment sales market looked like last week

Here’s what the $10M-$30M NYC investment sales market looked like last week
Real Capital Analytics data showed that New York’s multifamily market had a very slow July. (Credit: iStock)

New NYC rent law “beginning to shut down investment”

New NYC rent law “beginning to shut down investment”
Numbers were down across the board (Credit: iStock)

New York’s multifamily market had its slowest first half of the year since 2011

New York’s multifamily market had its slowest first half of the year since 2011
(Photo illustration by The Real Deal)

This office redeveloper is going all in

This office redeveloper is going all in
Clare Newman with Governors Island (Credit: Governors Island, Getty Images)

Governors Island redevelopment opposed as excessive

Governors Island redevelopment opposed as excessive
From left: 140 and 142 West 4th Street, 63 West 104 Street and 37-30 Review Avenue in Long Island City (Google Maps; StreetEasy)

Mid-market muscles up: $154M in deals last week

Mid-market muscles up: $154M in deals last week
Union Square Park to gain 2 acres in $100M plan (Getty_

Union Square Park to gain 2 acres in $100M plan

Union Square Park to gain 2 acres in $100M plan
Kirk Goodrich, president of Monadnock Development, is opposed to the bill sponsored by Bran Lander. (Getty, Monadnock Development)

Council bill favoring nonprofits for affordable housing will hurt minority-led firms: developers

Council bill favoring nonprofits for affordable housing will hurt minority-led firms: developers
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...