Bronx Development Site Near New Metro-North Station Poised for Sale

Himmel + Meringoff, a real estate developer with a significant portfolio in New York City, is preparing to sell a large development site in the Bronx. The 7.4-acre property, located at 1601 Bronxdale Ave., is situated near the planned Parkchester/Van Nest Metro-North station.

Acquired by H+M in 2019, the site has secured all necessary city approvals for a project encompassing six buildings. The development is slated to include 2.41 million square feet of space, featuring public areas like a plaza, retail spaces, and community facilities. The plan also includes 640 parking spaces and a direct pedestrian link to the future transit station.

The proposed complex could accommodate up to 2,300 apartments, representing an estimated investment of around $1 billion. This development has been factored into city and state plans to expand Metro-North service in the Bronx.

The property currently generates income through existing industrial and commercial tenants, including a 354,000-square-foot industrial building with second-floor office space.

Himmel + Meringoff and its joint venture partner, Affinius Capital, have appointed BKREA, led by CEO Bob Knakal, to manage the sale. The site was purchased for $89 million seven years ago, and sources indicate the owners are seeking approximately $120 million.

Knakal highlighted the property's strategic value, noting its combination of an operating industrial asset, substantial land area, proximity to a major future transit hub, and the potential to create thousands of homes within a single location.