Michael Perretta plans 25K sf medical building in Bronx

Michael Perretta submitted a new building construction project for a 24,743 square-foot 56 building at 2003 Cruger Avenue in Van Nest, Bronx. The plan was filed with the New York City Department of Buildings on April 28, 2023 under job number X00861945. It calls for the construction of a five-story building. The project is described in the filing as: application herewith filed for new five-story medical office building with attended parking. The architect is Gino O. Longo, Architect.

The property

The zoning is R5 which allows for up to 1.25 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $194,000. A Perretta entity has owned the property since 2001.

Violations and lawsuits

According to city public data, the property has received $2,400 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 Van Nest, The bulk, or 29 percent of the 3.5 million square feet of commercial built space are industrial buildings, with walkup buildings next occupying 27 percent of the space. In sales, Van Nest has near average sales volume among other neighborhoods with $28.7 million in sales volume in the last two years and is the 34th highest in Bronx. For development, Van Nest has near average amount of major developments among other neighborhoods and is the 38th highest in Bronx. It had 85,069 square feet of commercial and multi-family construction under development in the last two years, which represents 2 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of five of the 12 commercial properties representing 136,775 square feet of the 175,275 square feet. The largest owner is 2028 White Plains Owner Llc, followed by Cubesmart and then Gjergj Balaj. On the tax block, there was one new building construction project filed totaling 24,743 square feet. It is a 24,743 square-foot office building submitted by Michael Perretta and filed by Michael Perretta with plans filed April 28, 2023 and it has not been permitted yet.

The surrounding

Within a 400-foot radius of 2003 Cruger Avenue, PincusCo identified two commercial real estate items of interests occurred over the past 24 months. Of those two items, one was for major renovation including a certificate of occupancy change. It was a permit application filed on January 11, 2022 for the $1.4 million renovation of 17,960-square-foot hotel/dormitory/shelter (R-1) building with 11 residential units at 2028 White Plains Road. One of those two items was a sale which CubeSmart bought the 50,015-square-foot, one-unit industrial (E7) on 1980 White Plains Road for $7.5 million from Peter Ciregna on March 15, 2022.

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