Kuafu files plans for 113-unit building in East Morrisania

Shang Dai, CEO of Kuafu Properties submitted a new building construction project for a 66,538-square-foot, 113-unit building at 1404 Stebbins Avenue in East Morrisania, the Bronx. The plan was filed on September 12, 2022. It calls for the construction of a seven-story building and was filed with the New York City Department of Buildings under job number X00786064. The architect is Aufgang Architects. The project is described in the filing as: construct new seven-story mixed-use building as per plans filed herewith.

The 1404 Stebbins Avenue parcel has frontage of 150 feet with a total lot size of 14,860 square feet. The lot is irregular. The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential.

On this tax block, PincusCo has identified the owners of four of the 11 commercial properties representing 157,913 square feet of the 279,997 square feet. The largest owner is NYC Department of Education, followed by Louie Nine Boulevard Associates, L.P. and then Moses Freund. On the tax block, there were two new building construction projects totaling 132,438 square feet. The largest is a 113-unit, 78,509-square-foot None building developed by Kuafu Properties with plans filed September 12, 2022 and it has not been permitted yet. The second largest is a 73-unit, 53,929-square-foot R-2 building developed by Moses Freund with plans filed June 30, 2021 and permitted November 26, 2021.

Over the past five years, there has been one NYC Department of Buildings permit application filed for this parcel valued at more than $20,000. There has been one new building permit application

Within a 400-foot radius of 851 East 170 Street, Pincusco identified five commercial real estate items of interests occurred over the past 24 months. Of those five items, two were in new building development. There were two new building permit applications. The most recent of these two items was a filing on March 23, 2022 for a 17,243-square-foot R-2 building with 29 residential units at 1395 Bristow Street. Of those five items, one was for major renovation including a certificate of occupancy change. It was a permit application filed on December 15, 2021 for the $516,000 renovation of 11,188-square-foot R-1 building with 20 residential units at 1397 Stebbins Avenue. Of those five items, two were loans above $5 million totaling $33 million. The most recent of the two was Vaja Group which borrowed $19.1 million from NorthEast Community Bank secured by the industrial (G7) on 1420 Stebbins Avenue and one other property on December 15, 2021.

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