Description

Rare opportunity to acquire a 2.75-acre waterfront development site with an income-producing marina at 521 City Island Avenue, located in the heart of City Island—New York City’s renowned “Nautical Village.” Situated within a peaceful waterfront community known for its small-town atmosphere, seafood restaurants, yacht clubs, and coastal charm, the property offers one of the largest single-ownership footprints on City Island, totaling 120,042 square feet of land with an additional 149,928 square feet of underwater rights. Featuring approximately 278.72 feet of frontage along City Island Avenue, the site presents exceptional potential for a large-scale master-planned development, including luxury detached residences, mixed-use projects, community facilities, or commercial maritime uses. The property is zoned R3A/C2-2 within the City Island Special District, allowing for approximately 90,032 buildable square feet as-of-right and up to 120,042 buildable square feet for qualified residential, senior housing, or commercial development scenarios. An additional value-add opportunity exists through the expansion of the existing 80-slip marina to approximately 120 slips utilizing the recorded riparian rights, while the current marina operation already generates approximately $392,000 in gross annual income. The site also includes a two-story, 7,100-square-foot building with three existing units. Conveniently located near the Bx29 bus route with direct access to the 6 subway line at Pelham Bay Park and just minutes from City Island’s popular Restaurant Row, marinas, and nature preserves, this offering combines strong in-place cash flow with significant long-term redevelopment potential in one of the Bronx’s most unique waterfront destinations.