Long-term care community plans 260-unit building in North Riverdale
John Lembo of the long-term care community RiverSpring Living submitted a new building construction project for a 260-unit, 411,767 square-foot residential (R-2) building at 5921 Palisade Avenue in North Riverdale, Bronx. The existing complex of buildings includes the Hebrew Home at Riverdale. The plan was filed with the New York City Department of Buildings on January 10, 2024 under job number X00975648. It calls for the construction of a 12-story building. The project is described in the filing as: erect new building.
The property
The specialty building in North Riverdale has 159,260 square feet of built space and 238,950 square feet of additional air rights for a total buildable of 398,250 square feet according to a PincusCo analysis of city data. The parcel has six buildings with frontage of 334 feet and is 950 feet deep with a total lot size of 531,000 square feet. The lot is irregular. The zoning is R4 which allows for up to 0.75 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $39.7 million.
Development
John Lembo of Riverspring Hebrew Home At Riverdal submitted a new building construction project for a 260-unit, 411,767 square-foot residential (R-2) building at 5921 Palisade Avenue. The plan was filed on January 10, 2024. It calls for the construction of a 140-foot tall, 12-story building and was filed with the New York City Department of Buildings under job number X00975648. The architect is Perkins Eastman Architects. The project is described in the filing as: erect new building.
Violations and lawsuits
According to city public data, the property has received three DOB violations and $1,000 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 North Riverdale, The bulk, or 48 percent of the 3.4 million square feet of commercial built space are specialty buildings, with elevator buildings next occupying 38 percent of the space. In sales, North Riverdale has near average sales volume among other neighborhoods with $17.2 million in sales volume in the last two years and is the 41st highest in Bronx. For development, North Riverdale has near average amount of major developments among other neighborhoods and is the 14th highest in Bronx. It had 635,440 square feet of commercial and multi-family construction under development in the last two years, which represents 18 percent of the neighborhood’s built space.
The block
On this tax block, PincusCo has identified the owners of four of the 12 commercial properties representing zero square feet of the 768,695 square feet. The two identified owners are City Of New York and Gervis. On the tax block, there was one new building construction project filed totaling 411,767 square feet. It is a 260-unit, 411,767 square-foot residential (R-2) building submitted by John Lembo with plans filed January 10, 2024 and it has not been permitted yet.
Direct link to the property’s ACRIS page and link to DOB NOW portal.