696 East Fordham Road, Bronx, NY, 10458, US

696 E Fordham Road

Asset description

JLL has been exclusively retained to arrange the sale of 696 East Fordham Road, (the “Development”, “Property” or “Site”), located in the Fordham neighborhood of the Bronx, New York. 696 East Fordham sits on a 51,242 SF corner lot and features 180’ of frontage along E Fordham Road, and an additional 330’ of frontage on Crotona Avenue. The Property has C4-5D (R7D Equivalent) zoning which allows for 286,955 zoneable square feet under the City of Yes / UAP FAR. The Site is improved by a 40,000 square foot office building, leased to the Bronx Count DMV whose lease expires at the end of 2025. The property will be delivered vacant upon closing.

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Attributes

Land area gross

51,242 sf

Building area gross

38,452 sf

Zoning

C4-5D

Media

Investment highlights

Optimal Development Opportunity

The Property’s lot size is 51,242 SF and features 180’ of frontage along East Fordham and an additional 330’ of frontage on Crotona venue. The Site allows for the development of 286,955 ZSF under the City of Yes / UAP programs. The Property sits on a wide corner lot, allowing for multiple different massing scenarios and building designs with ample light and air.

Student Housing Opportunity

Given the proximity to Fordham University, The Site is very well positioned for student housing development. Over half of Fordham University’s student body lives off-campus, presenting strong demand for housing within close proximity to campus. The Arabella, a 165-unit new development rental building located at 448 East 189th street, is leasing to Fordham students, and achieving great rents.

Neighborhood Developments

The Fordham submarket has been the focus of some of the largest new development projects in the Bronx. There is over 1 million square feet that is slated for new development in the immediate submarket. These new projects along East Fordham Road & Webster Avenue will drastically affect the number of units and population size of the booming neighborhood, fostering economic growth and excitement.

Transit-Oriented Location

The Property is just a 10-minute walk to the Fordham Road Metro North MTA station, providing tenants access to midtown Manhattan in less than 25 minutes. 696 E Fordham is also a 15-minute walk to the MTA B & DD subway lines, providing for increased accessibility throughout NYC. The Site is also serviced by numerous bus lines such as the Bx12, Bx22, the BX9 and more.