Kim Tasher inks ground lease for latest South Bronx resi project

Tasher's firm SKF is planning a 77-unit resi building at 1760 Boone Avenue

TRD New York /
Dec.December 11, 2018 06:30 PM

1760 Boone Avenue in the Bronx (Credit: Google Maps)

Kim Tasher’s SKF Development has landed yet another deal in the Bronx.

The firm has inked a 99-year ground lease at 1760 Boone Avenue in Claremont for a total value of $82 million,

Steven Westreich and Isaac Shrem

according to Westbridge Realty Group’s Steven Westreich, who brokered the deal with his colleague Isaac Shrem. Annual payments start off around $200,000 and rise up to $2 million a year, Westeich said.

SKF plans to build an eight-story 77-unit project on the site spanning 68,000 square feet. The development will also include 39 parking spaces and likely be split between 70 percent market rate units and 30 percent affordable units.

Tasher will lease the site from owner Patrick A. Connolly. Connolly could not be reached for comment.

This is the latest of several projects that SKF Development is planning to build in the Bronx. The firm filed plans earlier in December for a 92-unit residential building at 829 Tilden Street, and it is also planning a 101-unit building at 976 Woodycrest Avenue, an 88-unit building at 246 Echo Place and a 71-unit building at 2306 Webster Avenue.


Related Articles

arrow_forward_ios
1065-1075 Gerard Avenue in the Bronx 

Prana pays Related $36M in Bronx multifamily play

448 East 143rd Street in the Bronx (Credit: Google Maps)

Private developer’s NYCHA project in Mott Haven lands $79M in financing

1159 and 1184 River Avenue with Maddd Equities' Jorge Madruga (left) and Joy Construction's Eli Weiss (right) (Credit: Google Maps)

Maddd Equities, Joy Construction score $64M for massive Bronx project

As the years go by_A look back at 17 years of real estate history

A look back at 17 years of real estate history

250th Issue

The Real Deal celebrates 250 issues

From left: Publisher and founder Amir Korangy, Editor-in-chief Stuart Elliott and VP of Corporate Development Yoav Barilan

TRD’s founders share war stories from over the years

Rafael Salamanca and the Bronx (Credit: Getty Images, iStock)

Bronx councilman snuffs out another de Blasio rezoning

Neir’s Tavern (Credit: Google Maps)

City’s oldest bar, of “Goodfellas” fame, gets last-minute lifeline

arrow_forward_ios
Loading...