A development site at 920 University Avenue, located between West 161st and West 165th Streets in the Highbridge neighborhood of the Bronx, was sold in an all-cash transaction valued at $500,000.
The block-through vacant lot consisting of approximately 7,735 square feet of total lot area benefits from over 61 feet of frontage on University Avenue as well as 60 feet on Summit Avenue. Located within an M1-5/ R7-1 zone, the irregularly shaped lot holds approximately 38,673 buildable square feet for commercial development. A hotel will be constructed on the site and could provide Harlem River views from the upper floors.
“The majority of interest came from hotel developers as this site will become the closest hotel to Yankee Stadium,” said Massey Knakal Director of Sales Nick Burns, who exclusively handled this transaction with First Vice President of Sales David Simone.
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Neighborhoods: Highbridge