Klaudio Rroku of New Line Builders submitted a new building construction project for a 21-unit, 9,621 square-foot residential (R-2) building at 1682 Weeks Avenue in Claremont Village, Bronx. The plan was filed with the New York City Department of Buildings on September 22, 2023 under job number X00934698. It calls for the construction of a six-story building. The project is described in the filing as: new 6-story residential building. The architect is Fred Geremia, Architects & Planners.
The current property with two residential units in Claremont Village has 1,434 square feet of built space and 12,867 square feet of additional air rights for a total buildable of 14,291 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 95 feet deep with a total lot size of 2,374 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 $606,000.
Prior sales and revenue
This property was sold for $615,000 on June 8, 2023.
Violations and lawsuits
According to city public data, the property has received $500 in OATH penalties in the last year.
There were no lawsuits or bankruptcies filed against the property for the past 24 months.
In Claremont Village, The bulk, or 42 percent of the 7.2 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 33 percent of the space. In sales, Claremont Village has near average sales volume among other neighborhoods with $53 million in sales volume in the last two years and is the 27th highest in Bronx. For development, Claremont Village has near average amount of major developments among other neighborhoods and is the 30th highest in Bronx. It had 233,606 square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space. There was one pre-foreclosure suit filed among other development buildings in the past 12 months.
On this tax block, PincusCo has identified the owners of one of the 11 commercial properties representing 13,876 square feet of the 131,146 square feet. The identified owner is Israel Frankel. On the tax block, there were three new building construction projects totaling 70,388 square feet. The largest is a 46-unit, 31,253 square-foot residential (R-2) building submitted by Spaxel and filed by Selimaj Shkumbin with plans filed November 10, 2020 and permitted April 14, 2022. The second largest is a 68-unit, 29,513 square-foot residential (R-2) building submitted by Simcha Ludmir and filed by Simcha Ludmir with plans filed March 15, 2022 and permitted May 25, 2022.
Within a 400-foot radius of 1682 Weeks Avenue, PincusCo identified six commercial real estate items of interests occurred over the past 24 months. Of those six items, two were in new building development. There were one new building permit application and one new building permit. The most recent of these two items was a permit on April 18, 2022 for a 31,253-square-foot residential (R-2) building with 46 residential units at 1695 Monroe Avenue. Of those six items, four were loans above $5 million totaling $38.7 million. The most recent of the four was Hershy M. Silberstein in which borrowed $13.5 million from IceCap Group secured by the 3,066-square-foot, two-unit two-family building (B1) on 1688 Weeks Avenue on July 12, 2023.