Paul Lumaj plans 50-unit building in Tremont

Paul Lumaj submitted a new building construction project for a 50-unit, 34,163 square-foot residential (R-2) building at 1970 Crotona Avenue in Tremont, Bronx. The plan was filed with the New York City Department of Buildings on October 7, 2022 under job number X08011125. It calls for the construction of an eight-story building.

The property

The 1970 Crotona Avenue parcel has frontage of 50 feet with a total lot size of 8,541 square feet. The zoning is R7-1 which allows for up to 3.44 times floor area ratio (FAR) for residential.

Development

Paul Lumaj submitted a new building construction project for a 50-unit, 34,163 square-foot R-2 building at 1970 Crotona Avenue. The plan was filed on October 7, 2022. It calls for the construction of a 74-foot-tall, eight-story building and was filed with the New York City Department of Buildings under job number X08011125. The architect is Badaly Architects. The project is described in the filing as: new 50-unit apartment building.

Violations and lawsuits

According to city public data, the property has not received any significant violations in the last year.

There were no lawsuits or bankruptcies filed against the property since September of 2020.

The neighborhood

In Tremont, the bulk, or 40 percent of the 8.5 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 20 percent of the space. In sales, Tremont has near average sales volume among other neighborhoods with $64.8 million in sales volume in the last two years and is the 23rd highest in Bronx. For development, Tremont has near average amount of major developments among other neighborhoods and is the 32nd highest in Bronx. It had 210,779 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 10 commercial properties representing 102,719 square feet of the 121,508 square feet. The largest owner is City of New York, followed by Alex Babakhanov and then Xhafer Gecaj. On the tax block, there was one new building construction project filed totaling 34,163 square feet. It is a 50-unit, 34,163 square-foot R-2 building developed by Paul Lumaj with plans filed October 7, 2022 and it has not been permitted yet.

The surrounding

Within a 400-foot radius of 1970 Crotona 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 Aranit Ahmetaj bought the 4,150-square-foot, three-unit retail building (K1) on 741 East Tremont Avenue and one other property for $6.5 million from Jung S. Noh on December 3, 2020. One of those two items was a loan which Anthony Pilavas borrowed $18.7 million from Arbor Realty Trust secured by the 145,330-square-foot, 152-unit rental (D1) on 740 East 178th Street on June 23, 2021.

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