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South Bronx Plot Now Ripe for Development

399 Exterior Street is a waterfront mega property that’s up for sale (google maps)

Crains New York Business and The Real Deal have written about a plot of land on Exterior Street that they say could very well be another big residential development site in the south Bronx.

The property at 399 Exterior Street that is currently a parking lot is being put up for sale by its current owner Pantheon Properties.  It’s said to be able to acommodate 300,000 squre feet.  The broker trying to move the property was quoted as saying as it’s the last large scale development project along the Mott Haven shoreline that will house the Brookfield Properties to the south and the Bronx Point project to the north.

Also, the project might be more attractive to developers because it’s within the ‘Opportunity Zone’, a Trump administration program that provides tax benefits.

Read the full November 28, 2018 story by Daniel Geiger in CRAINS NEW YORK BUSINESS…. 

Read the full November 29, 2018 story in THE REAL DEAL….

 

 

 

 

 

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1 thought on “South Bronx Plot Now Ripe for Development”

  1. Just last week a friend was explaining “warehousing” — something that developers do.

    They purchase properties, do nothing with them, even if there are tenants in some the buildings and sit on them until they have acquired an entire block and then put it all up for sale.

    Shame what is is happening.

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