- Development Site Advisors has been retained on an exclusive basis to arrange for the sale of 964, 966, and 968 East 167th Street in the Bronx.
- The subject property consists of three (3) contiguous buildings that contain six (6) residential units and two (2) commercial units.
- This property offers 58 feet of frontage on East 167th Street in an area that is undergoing rapid redevelopment.
- 964, 966, and 968 East 167th Street are located in the proposed Southern Boulevard Rezoning Study Area, potentially increasing the ZFA of the site in the near future.
- The Property is in a recently designated Opportunity Zone, allowing for a long term holder to defer and even eliminate capital gains tax.
- The Property is well located, within walking distance of three different subway lines: the 2, 5, and 6
- The Property has about ±13,500 ZFA in air rights for future development, a total of ± 21,000 as-of-right ZFA for the 3 combined lots.
- If one was to use the facility bonus, the total ZFA is increased to ± 25,200 ZFA.
- The Property is surrounded by parks, playgrounds, restaurants, schools, and other residential services that add to the desirability of the area.