Belal Hossain files plans for 38-unit project in University Heights

Belal Hossain of B&H Contracting Corp. submitted a new building construction project for a 38-unit, 30,581 square-foot residential (R-2) building at 41 North Street in University Heights, Bronx. The plan was filed with the New York City Department of Buildings on January 9, 2023 under job number X00804817. It calls for the construction of a seven-story building. The project is described in the filing as: proposed new seven-story mixed-use building: 38 dwelling units with community facility on the ground and eleven (11) parking spaces in the cellar. The architect is Gerald Caliendo Architects.
The parcel has an alternate address of 2306 Grand Avenue.

The property

The parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 square feet. The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $186,000.

Prior sales and revenue

This property was sold for $375,000 on December 19, 2017.

Violations and lawsuits

According to city public data, the property has received $300 in OATH penalties in the last year.

There were no lawsuits or bankruptcies filed against the property for the past 24 months.

The neighborhood

In University Heights, The bulk, or 41 percent of the 9.8 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 36 percent of the space. In sales, University Heights has near average sales volume among other neighborhoods with $44.5 million in sales volume in the last two years and is the 30th highest in Bronx. For development, University Heights has near average amount of major developments among other neighborhoods and is the 13th highest in Bronx. It had 772,178 square feet of commercial and multi-family construction under development in the last two years, which represents 8 percent of the neighborhood’s built space. There were two pre-foreclosure suit filed among other elevator buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of seven of the 31 commercial properties representing 173,202 square feet of the 475,389 square feet. The largest owner is City of New York, followed by David Somerstein and then Fordham Bedford Housing Corporation. On the tax block, there were two new building construction projects totaling 39,181 square feet. The largest is a 38-unit, 30,581 square-foot residential (R-2) building submitted by Belal Hossain with plans filed January 9, 2023 and it has not been permitted yet. The second largest is a 10-unit, 8,600 square-foot residential (R-3) building submitted by Tarlok Singh with plans filed August 10, 2018 and it has not been permitted yet.

The surrounding

Within a 400-foot radius of 2306 Grand Avenue, PincusCo identified seven commercial real estate items of interests occurred over the past 24 months. Of those seven items, two were for major renovation including a certificate of occupancy change. They were two permit applications with a total initial cost of $608,080. The most recent of these two items was the filing on February 21, 2022 for a 6,685-square-foot residential (R-2) building with 13 residential units at 2312 Grand Avenue. One of those seven items was a sale which Neighborhood Restore HDFC bought the 63,000-square-foot, 59-unit rental (D1) on 2344 Davidson Avenue for $9.1 million from Blackshore Realty Group on July 13, 2021. Of those seven items, four were loans above $5 million totaling $155.9 million. The most recent of the four was Gary J. Zuckerman in which borrowed $6 million from New York Community Bank secured by the 32,500-square-foot, 35-unit rental (C1) on 2357 Davidson Avenue on January 17, 2023.

Direct link to the property’s ACRIS page and link to DOB NOW portal.