Gregory Harvey plans 23-unit project in Bedford Park

Property owner Gregory Harvey submitted a new building construction project for a 23-unit, 15,422 square-foot residential (R-2) building at 172 East 205th Street in Bedford Park, Bronx. The plan was filed with the New York City Department of Buildings on November 11, 2022 under job number X00740738. It calls for the construction of a six-story building. The project is described in the filing as: herewith filing new building, six story with cellar twenty three-family dwelling. The architect is Gerald Caliendo Architects.

The property

The current property has 3 residential units with 2,639 square feet of built space and 17,789 square feet of additional air rights for a total buildable of 20,437 square feet according to a PincusCo analysis of city data. The 172 East 205 Street parcel has frontage of 25 feet and is 135 feet deep with a total lot size of 3,395 square feet. The zoning is R8 which allows for up to 6.02 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $789,000.

Prior sales and revenue

This property was sold for $825,000 on September 9, 2021.

Violations and lawsuits

According to city public data, the property has received 34 housing violations and $7,115 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 Bedford Park, the bulk, or 48 percent of the 19.7 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 28 percent of the space. In sales, Bedford Park has near average sales volume among other neighborhoods with $94.6 million in sales volume in the last two years and is the 17th highest in Bronx. For development, Bedford Park has near average amount of major developments among other neighborhoods and is the 3rd highest in Bronx. It had 1.3 million square feet of commercial and multi-family construction under development in the last two years, which represents 7 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of 12 of the 56 commercial properties representing 389,460 square feet of the 638,053 square feet. The largest owner is Related Companies, followed by Chestnut Holdings of New York and then Allen Schwartz. On the tax block, there were 10 new building construction projects totaling 190,843 square feet. The largest is a 40-unit, 44,318 square-foot residential (R-2) building developed by Zdzislaw Czerny with plans filed October 27, 2015 and it has not been permitted yet. The second largest is a 66-unit, 43,170 square-foot residential (R-2) building developed by Laquila Group with plans filed April 5, 2019 and permitted January 14, 2021.

The owner

The owner according to the Department of Housing Preservation and Development is Gregory Harvey, head officer. The business entity is Brownsville Services Incorporated.

The surrounding

Within a 400-foot radius of 172 East 205 Street, PincusCo identified six commercial real estate items of interests occurred over the past 24 months. Of those six items, three were in new building development. There were one new building permit application and two new building permits. The most recent of these three items was a permit on November 3, 2022 for a 48,731-square-foot R-2 building with 88 residential units at 189 E 205th Street. Of those six items, three were loans above $5 million totaling $40.4 million. The most recent of the three was Franco Sukaj which borrowed $12.4 million from Greystone & Co. secured by the 42,524-square-foot, 63-unit rental (D9) on 186 East 205th Street on July 27, 2022.

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