Joy Construction files plans for 213 units in Mt. Eden
1545 Jerome Avenue axonometric rendering (Credit - Kimberly Murphy architect via DOB)
Joy Construction, which frequently partners with Maddd Equities, submitted a new building construction project for a 213-unit, 102,319 square-foot residential (R-2) building at 1545 Jerome Avenue in Mt. Eden, the Bronx. The plan was filed with the New York City Department of Buildings on January 7, 2025 under job number X01059040. It calls for the construction of an 11-story building. The architect is ESKW/Architects.
The project is described in the filing as: propose an 11-story, mixed-use building consisting of affordable housing, with Use Groups 2 (MIH & AIRS), 3a (supportive housing), and 6 (retail). Amnon Shalhov, an executive with Joy Construction, filed the plans.
No sale has been recorded in recent years for the tax parcel as of publication.
| wdt_ID | floor | comment | description | persons_permitted | occupancy_label | zoning_use | dwelling_units |
|---|---|---|---|---|---|---|---|
| 1 | Cellar | UTILITY ROOMS, FIRE PUMP, IT TELECOM, TRASH COMPACTOR ROOM, LAUNDRY ROOM, DETENTION TANK | Apartment | 14 | Residential | ||
| 2 | Cellar | ACCESSORY STORAGE, BICYCLE PARKING STORAGE (TOTAL 50 SPACES) | Storage of non combustible Materials | 6 | Storage | ||
| 3 | Cellar | ACCESSORY FITNESS ROOM, COMMUNITY ROOM, COMPUTER ROOM, SOCIAL SERVICES OFFICE SUITE | Apartment | 78 | Residential | ||
| 4 | Open Space | OUTDOOR RECREATION SPACE AT THE REAR YARD | Apartment | 16 | Residential | ||
| 5 | 1 | EIGHT (8) DWELLING UNITS FOR NON-PROFIT INSTITUTIONS WITH SLEEPING ACCOMMODATIONS | Apartment | 0 | Residential | 8 | |
| 6 | 1 | FIVE (5) CLASS A APARTMENTS | Apartment | 0 | Residential | 5 | |
| 7 | 1 | TWO (2) APARTMENTS FOR AFFORDABLE INDEPENDENT RESIDENCES FOR SENIORS | Apartment | 0 | Residential | 2 | |
| 8 | 1 | BUILDING LOBBY, KID'S PLAY ROOM, SECURITY, SUPER OFFICE, ACCESSORY OFFICE, COMMUNITY ROOM | Apartment | 33 | Residential | ||
| 9 | 1 | COMMERCIAL RETAILS | Retail Sale | 142 | Mercantile | ||
| 10 | 2 | EIGHT (8) CLASS A APARTMENTS | Apartment | 0 | Residential | 8 |
The property
The industrial building in Mt Eden has 11,000 square feet of built space and 44,940 square feet of additional air rights for a total buildable of 56,000 square feet according to a PincusCo analysis of city data. The parcel has frontage of 100 feet and is 140 feet deep with a total lot size of 14,000 square feet. The zoning is R7A which allows for up to 4 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $925,000.
Prior sales and revenue
The 11,000-square-foot property generated revenue of $202,985 or $18 per square foot, according to the most recent income and expense figures.
Violations and lawsuits
According to city public data, the property has received $2,500 in ECB penalties and $2,550 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 Mt Eden, The majority, or 51 percent of the 10.3 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 27 percent of the space. In sales, Mt Eden has near average sales volume among other neighborhoods with $86.1 million in sales volume in the last two years and is the 13th highest in Bronx. For development, Mt Eden has near average amount of major developments among other neighborhoods and is the 14th highest in Bronx. It had 662,941 square feet of commercial and multi-family construction under development in the last two years, which represents 6 percent of the neighborhood’s built space.
The block
On this tax block, PincusCo has identified the owners of two of the 20 commercial properties representing 202,403 square feet of the 341,559 square feet. The two identified owners are City of New York and Ved Parkash. On the tax block, there was one new building construction project filed totaling 102,319 square feet. It is a 213-unit, 102,319 square-foot residential (R-2) building submitted by Joy Construction and filed by Amnon Shalhov with plans filed January 7, 2025 and it has not been permitted yet.
The surrounding
Within a 400-foot radius of 79 Goble Place, PincusCo identified one commercial real estate item of interests occurred over the past 24 months. It was a loan which Neighborhood Restore borrowed $6.8 million from NYC Housing Development Corporation secured by the 81,708-square-foot, 53-unit rental (C7) on 1575 Townsend Avenue and 14 other properties on October 1, 2024.
Direct link to the property’s ACRIS page and link to DOB NOW portal.