Description

3848 Bailey Avenue in the Bronx offers a compelling development opportunity on a 3,134 SF lot zoned R7-1 (Wide Street) with a 4.0 FAR, allowing approximately 12,536 buildable SF. Currently improved with a two-family structure to be delivered vacant, the site is ready for immediate development and can support an approximately 8-story residential building with around 18 units. Located just 0.3 miles from the 238th Street subway station, the property provides convenient access to Manhattan. The recent implementation of the 485-x tax abatement under the Affordable Neighborhoods for New Yorkers (ANNY) program further enhances its appeal, offering meaningful tax incentives, making it an attractive opportunity for rental developers and investors seeking to capitalize on the Bronx’s continued growth.