Boston Market has signed a ten year lease for a 2,600 square foot ground floor space at Triangle Plaza in Melrose on 149th Street which is currently under construction.
The $35 million Triangle Plaza is slated to finish construction by Spring of 2015 and already Metropolitan College of New York is on board to move its headquarters to the development and occupying the upper level and a Fine Fare supermarket will be located at Triangle Plaza as well.
The College of New Rochelle’s John Cardinal O’Connor Campus in Melrose sold last month for the asking price of $10.5 million in an all cash transaction according the real estate firm Massey Knakal.
Over $2 billion has poured into the Melrose neighborhood of the Bronx as well as adjacent areas in new construction — whether residential or new commercial — in less than 10 years easily out pacing the entire borough.
The bulk of the money has been centered in the many developments in Melrose such as La Terraza, Boricua College & North Rose Apartments, St Ann’s Terrace, Via Verde as well as the proposed 950 unit La Central Development which is currently estimated at $345 million.
Melrose and The South Bronx are experiencing a boom in the hotel industry.
First the luxury boutique Opera House Hotel opened on 149th street between Brook and Bergen and now coming this fall is the Umbrella Hotel. Located at 681 Elton Avenue between E 153rd & E 154th Streets right off 3rd Avenue, the 7 story building will house 56 rooms with rates varying from $129 – $159 per night said one of the owners and Bronxite, Manny Chadah of AMG Elton LLC.
Real Estate in the South Bronx is heating up.
A tiny 4,100 square foot lot in the Lower Concourse Rezoning District of the Bronx is currently listed for a whopping $3,000,000. The property at 100 East 149th Street at Exterior Street is located just across from the the Special Harlem River Waterfront District and at the foot of the 145th Street Bridge into Manhattan. With a zoning of M1-4/R8A, the site can be developed into a 10-12 story residential building.
A listing for a condo loft in the Mott Haven neighborhood of the South Bronx has broken a record with an asking price of $900,000.
Located at 305 East 140th Street at Bronx Bricks Condominiums, a converted building constructed in 1904, the 2,350 square foot apartment originally sold for $712,775 in 2007 at the peak of the market.
From The New York Times:
Anyone seeking a large body of water in Pelham Bay would be quickly frustrated: The neighborhood’s namesake no longer exists. Instead, you would find a tidy community with rows of two-story brick homes bearing awnings and grillwork fences immediately adjacent to the city’s largest park.
Morris Court, which began construction two years ago after demolishing almost an entire block (only one property owner did not sell), is nearing completion as the first development to take advantage of the Lower Concourse rezoning approved back in 2009.
The $69 million complex, when complete, will include 201 mixed low & middle income units for families with incomes ranging from approximately $28,595 to $90,700 per year. 25% of the units will be set aside for families that were formerly homeless.
Here are just some of the stories on the Bronx that are circulating today:
Residents at 755 Jackson Avenue are upset that much needed urgent repairs ha end been made in their building. The building, which was taken over by private equity firm Stabilis Capital Management, is on the city’s Worst Landlord Watchlist. [Read More: Mott Haven Herald]
New York State Comptroller, Tom DiNapoli released a report today which tells us what we already knew in the Bronx: That there is an affordable housing crisis in our borough.
According to the report, “Incomes and housing costs vary regionally statewide and are generally higher in the New York City metropolitan area, although housing affordability is a statewide challenge. Bronx County, for example, had the highest proportion of renters with housing costs of 30 percent or more of income in 2012, at nearly 58 percent.”
It’s no secret that Bronxites are struggling to make ends meet and even though the Bronx saw some of the highest numbers of new construction affordable housing units in the city, rising rents and stagnant income are keeping many of our residents in a perpetual cycle of poverty.
Via the Wall Street Journal
By DONNA KARDOS YESALAVICH
The amount of new retail space across the U.S. has remained relatively flat in recent years, but New York’s Bronx borough has emerged as a hot spot.
At least five major shopping malls or centers are under way in the Bronx that will add more than 1.4 million square feet of space, one of the largest local retail expansions in the country. Despite the swell of supply already in the pipeline, developer Equity One Inc. last week said it would increase the size of its Broadway Plaza shopping center by 33,000 square feet to 148,000 square feet at an additional cost of $13.8 million, boosting the project’s total price tag to $66.5 million.
The Bronx is greening.
One of the best practices and policies to emerge from the Bronx Borough President’s office is the administration’s fierce commitment to encourage construction of LEED certified buildings and green installations.
Now the Bronx can claim yet another first with the largest solar panel installation in New York City.
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