Morrisania Development Site

Located at 1348 Fulton Avenue in the Bronx, this development site offers a considerable 5,175 square feet of space with a 25' x 205' lot. It's zoned R6 with a Floor Area Ratio (FAR) of 2.2, allowing for a buildable area of approximately 11,385 square feet. The property, situated just 0.9 miles from the 167th Street subway stop, offers easy access to Manhattan. This site is currently generating $67,032 in gross income from two month-tomonth tenants, and is delivered vacant, making it immediately available for development. The deep lot provides substantial space for construction, and the property holds the potential for a 6-story building with around 16 residential units. The recent implementation of the 485-x tax abatement, under the Affordable Neighborhoods for New Yorkers ("ANNY") program, enhances the attractiveness of this opportunity, offering significant tax incentives for developers focused on rental housing. This property is well-suited for a rental developer or investor looking to capitalize on the growth and potential of the Bronx.