Moses Ostreicher files plan for 20-unit building in Fordham Heights, fourth Bronx plan this year

Moses Ostreicher submitted a new building construction project for a 20-unit, 7,667 square-foot residential (R-2) building at 2274 Morris Avenue in Fordham Heights, Bronx. The plan was filed with the New York City Department of Buildings on November 17, 2022 under job number X00755013. It calls for the construction of a six-story building. The project is described in the filing as: new six-story, 20-dwelling unit building.

This is the fourth new building plan Moses Ostreicher has filed so far this year, with all the projects in the Bronx and all between 15 and 23 units.

The property

The prior property with 1 residential unit in Fordham Heights has 1,164 square feet of built space and 12,767 square feet of additional air rights for a total buildable of 13,924 square feet according to a PincusCo analysis of city data. The parcel has frontage of 25 feet and is 92 feet deep with a total lot size of 2,313 square feet. The lot is irregular. The zoning is R8A which allows for up to 6.02 times floor area ratio (FAR) for residential with inclusionary housing. The city-designated market value for the property in 2022 is $479,000.

Prior sales and revenue

This property was sold for $600,000 on August 10, 2022.

Violations and lawsuits

According to city public data, the property has received $5,630 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 Fordham Heights, the bulk, or 45 percent of the 16 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 36 percent of the space. In sales, Fordham Heights has near average sales volume among other neighborhoods with $127 million in sales volume in the last two years and is the 11th highest in Bronx. For development, Fordham Heights has near average amount of major developments among other neighborhoods and is the 7th highest in Bronx. It had 1.2 million square feet of commercial and multi-family construction under development in the last two years, which represents 8 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of four of the 17 commercial properties representing 129,080 square feet of the 407,292 square feet. The largest owner is Jonathan Coren, followed by Workforce Housing Group and then Ismael Ayala. On the tax block, there was one new building construction project filed totaling 7,667 square feet. It is a 20-unit, 7,667 square-foot residential (R-2) building submitted by Moses Ostreicher and filed by Moses Ostreicher with plans filed November 17, 2022 and it has not been permitted yet.

The surrounding

Within a 400-foot radius of 2274 Morris Avenue, PincusCo identified four commercial real estate items of interests occurred over the past 24 months. One of those four items was a sale which Chestnut Holdings bought the 29,805-square-foot, 31-unit rental (C1) on 2295 Grand Concourse for $5.5 million from Hysen Mehmetaj on February 1, 2022. Of those four items, three were loans above $5 million totaling $36.3 million. The most recent of the three was 2238 Morris LLC in which borrowed $14.1 million from Customers Bank secured by the 76,860-square-foot, 41-unit rental (C7) on 2238 Morris Avenue and two other properties on August 5, 2022.

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