Remzi Kurbogaj files plans for construction of a 12-unit building in University Heights

Remzi Kurbogaj of 61buchanan LLC submitted a new building construction project for a 12-unit, 6,814-square-foot residential (R-2) building at 61 Buchanan Place in University Heights, the Bronx. The plan was filed on September 13, 2022. It calls for the construction of a 64-foot-tall, four-story building and was filed with the New York City Department of Buildings under job number X07995097. The architect is C2b Architects PC. The project is described in the filing as: application filed to construct a four-story residential new building in conjunction with foundation (x08002026).

The 61 Buchanan Place parcel has frontage of 25 feet and is 100 feet deep with a total lot size of 2,500 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 $186,000.

The development building in University Heights has zero square feet of built space and 8,600 square feet of additional air rights for a total buildable of 8,600 square feet according to PincusCo analysis of city data.

According to city public data, the property has received $1,250 in ECB penalties and $6,130 in OATH penalties in the last year.

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

On this tax block, PincusCo has identified the owners of four of the 16 commercial properties representing 110,461 square feet of the 208,118 square feet. The largest owner is Chestnut Holdings of New York, followed by BCN Development and then Lightstone Group. On the tax block, there were five new building construction projects totaling 113,898 square feet. The largest is a 56-unit, 56,341-square-foot R-2 building developed by Glenn Palilla with plans filed April 27, 2021 and it has not been permitted yet.The second largest is a 28-unit, 22,122-square-foot R-2 building developed by Vyacheslav Faybyshev with plans filed December 5, 2018 and it has not been permitted yet.

Within a 400-foot radius of 61 Buchanan Place, PincusCo identified three commercial real estate items of interests occurred over the past 24 months. Of those three items, two were in new building development. There were two new building permit applications. The most recent of these two items was a filing on June 9, 2022 for a 19,942-square-foot R-2 building with 11 residential units at 60 Buchanan Place. One of those three items was a loan which BCN Development borrowed $8 million from Piermont Bank secured by the 21,061-square-foot, 24-unit rental (D7) on BUCHANAN Place on June 8, 2022.

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