1584 White Plains Rd
Features & amenities
Location
Exclusive Sale Retention:
• BKREA has been exclusively retained to facilitate the sale of 1584 White Plains Road, a shovel-ready, transit-oriented development site spanning a full city block in the heart of Parkchester, Bronx.
Property Overview
• Total Lot Size: 67,947 square feet (including the approved de-mapping of Archer Road and the adjacent triangle).
• Zoning: R8 (C2-4 equivalent) with a 7.2 FAR within an MIH area, allowing for significant mixed-use development.
Development Potential
• Base ZFA: 489,218 square feet.
• Above-Grade ZFA: 511,218 square feet, including a 22,000-square-foot exempt floor area.
• Gross Floor Area (GSF): Approximately 606,232 GSF under City of Yes deductions/bonuses.
• FRESH Bonus: Potential to add up to 20,000 square feet of residential ZFA by incorporating a Fresh Food Store, enhancing community access to healthy food while increasing buildable space.
Site Features
Topographical Advantage:
• A 22-foot slope from East Tremont Avenue to Guerlain Street creates at least 22,000 square feet of space that is fully above grade but exempt from ZFA calculations under NYC’s Non-ZFA Street-Facing Retail Allowances.
• This exemption maximizes usable space while preserving FAR, making it an attractive investment.
Strategic Location & Transit Access
• Upcoming Parkchester Metro-North Station (opening 2027) is just steps away, providing 21-minute access to Midtown Manhattan.
• Convenient Bus Service with lines Bx40, Bx42, and Bx15 stopping at 3rd Avenue and East Tremont Avenue.
• Strong neighborhood demand for housing, retail, and community amenities due to excellent transit connectivity.
Key Advantages
• Entitled for R8 Mixed-Use Development.
• Full Demolition & Environmental Remediation Completed.
• Certificate of Completion from NYSDEC under the Brownfield Clean-Up Agreement, with supporting documentation available in the data room.
• Eligible for 485x Tax Abatement (outside of Zone A/B).
• Brownfield Tax Credit Approved (available separately for sale).
• This prime development site presents an outstanding opportunity to capitalize on Parkchester’s rapid growth and unmatched transit access.
- Transit Oriented Location - Situated just steps from the under construction Parkchester/Van Nest Metro North Station, set to open in 2027, with a travel time of approximately 21 minutes to Midtown.
- 485-x Qualification (Not in Zone A & B) - The development is eligible for the 485x tax abatement, providing substantial tax savings.
- Fully Remediated - The 68,000-square-foot lot has been fully demolished, cleared and remediated, qualifying for Brownfield Tax Credits.
- Projected Market Demand - The Parkchester-Morris Park submarket is expected to see over 20,000 new residents and 10,000 new daily workers by 2033.