Elvis Dushi files plans for 35-unit project in Wakefield

Elvis Dushi submitted a new building construction project for a 35-unit, 23,620 square-foot residential (R-2) building at 4563 Furman Avenue in Wakefield, Bronx. The plan was filed with the New York City Department of Buildings on August 14, 2024 under job number X01094721. It calls for the construction of a seven-story building. The project is described in the filing as: new seven-story building with 35 residential units.

The property

The development site is on tax lots 58, 59 and 60 and has frontage of 77 feet with a total lot size of 5,650 square feet. The lot is irregular. The zoning is R7D which allows for up to 4.2 times floor area ratio (FAR) for residential with inclusionary housing. City property records show all three addresses, 4563, 4565 and 4567 Furman Avenue, owned by John Elio.

Violations and lawsuits

According to city public data, the property has not received any significant violations in the last year.

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

The neighborhood

In Wakefield, The bulk, or 34 percent of the 9.5 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 27 percent of the space. In sales, Wakefield has near average sales volume among other neighborhoods with $152.8 million in sales volume in the last two years and is the 5th highest in Bronx. For development, Wakefield has near average amount of major developments among other neighborhoods and is the 20th highest in Bronx. It had 490,916 square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space. There were two pre-foreclosure suit filed among other development buildings in the past 12 months.

The block

On this tax block, PincusCo has identified the owners of four of the 19 commercial properties representing 64,304 square feet of the 101,264 square feet. The largest owner is City ff New York, followed by Rabindranauth Persaud and then Tejpal Sandhu. On the tax block, there was one new building construction project filed totaling 23,620 square feet. It is a 35-unit, 23,620 square-foot residential (R-2) building submitted by Elvis Dushi with plans filed August 14, 2024 and it has not been permitted yet.

The surrounding

Within a 400-foot radius of 4563 Furman Avenue, PincusCo identified two commercial real estate items of interests occurred over the past 24 months. One of those two items was a sale which Vertical Community Development bought the 24,810-square-foot, one-unit industrial (E1) on 4541 Furman Avenue for $10.5 million from Altmark Group on April 3, 2024. One of those two items was a loan which Vertical Community Development borrowed $16 million from Supportive Housing Solutions Fund secured by the 24,810-square-foot, one-unit industrial (E1) on 4541 Furman Avenue on April 3, 2024.

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