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BKREA is marketing 1601 Bronxdale Avenue, a 7.4-acre development opportunity in the Bronx located near the planned Parkchester/Van Nest Metro-North station. Owned by Himmel + Meringoff and Affinius Capital, the property represents a rare combination of existing income, substantial land area, full city approvals, and significant future residential development potential.
The site has received approvals for a six-building development totaling approximately 2.41 million square feet, including up to 2,300 residential units, retail and community space, a public plaza, 640 parking spaces, and a direct pedestrian connection to the planned Metro-North station. The approximately $1 billion development could represent one of the largest fully entitled housing opportunities in New York City.
The property encompasses approximately 7.4 acres, providing a rare scale for a residential development opportunity within New York City.
The site is fully approved for six buildings totaling approximately 2.41 million square feet, creating substantial flexibility for a future owner to execute a large-scale mixed-use project.
The approved plans call for up to 2,300 apartments, positioning the property as a major opportunity to contribute to New York City's growing demand for housing.
One of the property's most significant advantages is its planned direct pedestrian connection to the future Parkchester/Van Nest Metro-North station. Transit accessibility is expected to be a major driver of future residential and commercial activity in the surrounding area.
While positioned for substantial future development, the property currently generates income from industrial and commercial tenants, including a 354,000-square-foot industrial building with second-floor office space.
The approved project is estimated to require approximately $1 billion in development costs and could become one of the city's largest fully entitled housing development sites.
The property's location reflects the broader Bronx Metro-North planning strategy, which seeks to promote new housing, retail, pedestrian connections, and increased residential density around future stations.
1601 Bronxdale Avenue combines several characteristics that are rarely available in a single New York City development opportunity: significant scale, existing income, full approvals, residential density, and proximity to major future transit infrastructure.
The property's current industrial and commercial uses provide in-place cash flow while its approved development program creates the potential for a transformative residential and mixed-use project. The planned Metro-North connection further enhances the site's long-term positioning within the Bronx's evolving transit and housing landscape.
According to Bob Knakal:
“You have an operating industrial asset, significant land area, a major future transit connection and the potential to create thousands of homes — all in one property.”
The offering represents more than a traditional development site. It provides an investor with the opportunity to acquire an income-producing property today while positioning for a large-scale residential transformation tied to one of the Bronx's most significant planned transit investments.
As New York continues to seek additional housing and transit-oriented development opportunities, properties with scale, approvals, existing cash flow, and strategic infrastructure connections are positioned to attract significant investor attention.
The property is located in the Bronx near the planned Parkchester/Van Nest Metro-North station.
The site encompasses approximately 7.4 acres.
The approved plans call for six buildings totaling approximately 2.41 million square feet, with up to 2,300 residential units, retail and community space, a public plaza, 640 parking spaces, and a pedestrian connection to the future station.
Yes. The site is currently leased to industrial and commercial tenants, including a 354,000-square-foot industrial facility with office space.
The planned station connection could significantly improve accessibility and support additional residential, retail, and commercial activity around the property. The city's Metro-North planning framework specifically seeks to concentrate new housing and density near future stations.
BKREA, led by Bob Knakal, has been retained to market the property.
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