Nush Sukaj files plans for 32-unit building in Belmont

Nush Sukaj, of NFS Development, submitted a new building construction project for a 32-unit, 21,339 square-foot residential (R-2) building at 2164 Hughes Avenue in Belmont/Little Italy, the Bronx. The plan was filed with the New York City Department of Buildings on November 17, 2022 under job number X08021316. It calls for the construction of a seven-story building. The project is described in the filing as: new 32-unit apartment building. The architect is Badaly Architects.

The property

The prior building with one residential unit has 2,000 square feet of built space and 14,345 square feet of additional air rights for a total buildable of 16,340 square feet according to a PincusCo analysis of city data. The parcel has two buildings with frontage of 50 feet and is 95 feet deep with a total lot size of 4,750 square feet. The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $490,000.

Prior sales and revenue

This property was sold for $950,000 on May 19, 2022.

Violations and lawsuits

According to city public data, the property has received $2,855 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 Belmont/Little Italy, the bulk, or 44 percent of the 14.1 million square feet of commercial built space are walkup buildings, with elevator buildings next occupying 26 percent of the space. In sales, Belmont/Little Italy has near average sales volume among other neighborhoods with $207.7 million in sales volume in the last two years and is the 6th highest in Bronx. For development, Belmont/Little Italy has near average amount of major developments among other neighborhoods and is the 16th highest in Bronx. It had 701,191 square feet of commercial and multi-family construction under development in the last two years, which represents 5 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of three of the five commercial properties representing 28,879 square feet of the 31,905 square feet. The largest owner is ABJ Properties, followed by Murto Musovic and then City Of New York. On the tax block, there were two new building construction projects totaling 35,109 square feet. The largest is a 32-unit, 21,339 square-foot residential (R-2) building submitted by NFS Development and filed by Nush Sukaj with plans filed November 17, 2022 and it has not been permitted yet. The second largest is a 21-unit, 13,769 square-foot residential (R-2) building submitted by Neo Pishaj and filed by Neo Pishaj with plans filed November 4, 2022 and it has not been permitted yet.

The surrounding

Within a 400-foot radius of 2164 Hughes Avenue, PincusCo identified two commercial real estate items of interests occurred over the past 24 months. One of those two items was a sale which Kenneth Yustman bought the 45,600-square-foot, 47-unit rental (C7) on 645 East 182nd Street for $5 million from Evan Schwartz on August 30, 2022. One of those two items was a loan which Franco Sukaj, Nush Sukaj, and Christos Spyropoulos borrowed $6.5 million from Northeast Community Bank secured by the 0-square-foot development site (V0) on 2180 Arthur Avenue on March 17, 2022.

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