Yaakov Lefkowitz files plans for 20 units in Concourse Village

Yaakov Lefkowitz submitted two plans to increase the size of two 3-unit buildings into two 10-unit buildings for a total of 20 units on one block in Concourse Village, the Bronx.

In the first, Yaakov Lefkowitz submitted a major alteration application to convert a three-unit residential (RES) building at 951 Sherman Avenue in Concourse Village, Bronx. The plan was filed with the New York City Department of Buildings on December 13, 2022 under job number X08054058. It calls for a rehab of the three-story building. The project is described in the filing as: existing 3-story, 3-family building, to be converted to a 10-family residential.

In the second project, four buildings away, Yaakov Lefkowitz submitted a major alteration application to convert a three-unit residential (RES) building at 943 Sherman Avenue in Concourse Village, Bronx. The plan was filed with the New York City Department of Buildings on December 16, 2022 under job number X00800429. It call for a rehab of the three-story building. The project is described in the filing as: existing 3-story, 3-family building, to be converted to a 10-family residential.

The 951 Sherman Avenue property was sold for $550,000 on July 15, 2022.

Violations and lawsuits

According to city public data, the property has received $50 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 Concourse Village, The bulk, or 39 percent of the 17.8 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 28 percent of the space. In sales, Concourse Village has near average sales volume among other neighborhoods with $97 million in sales volume in the last two years and is the 17th highest in Bronx. For development, Concourse Village has near average amount of major developments among other neighborhoods and is the 22nd highest in Bronx. It had 499,567 square feet of commercial and multi-family construction under development in the last two years, which represents 3 percent of the neighborhood’s built space.

The block

On this tax block, PincusCo has identified the owners of seven of the 14 commercial properties representing 425,912 square feet of the 498,788 square feet. The largest owner is Lightstone Group, followed by Finkelstein Timberger East Real Estate and then Travis Everett. On the tax block, there was one new building construction project filed totaling 32,950 square feet. It is a 41-unit, 32,950 square-foot residential (R-2) building submitted by Parag Mehta with plans filed January 11, 2021 and it has not been permitted yet.

The surrounding

Within a 400-foot radius of 951 Sherman Avenue, PincusCo identified four commercial real estate items of interests occurred over the past 24 months. Of those four items, one was in new building development. It was a new building permit application filed on January 11, 2021 for a 32,950-square-foot residential (R-2) building with 41 residential units at 215 E 163rd Street. One of those four items was a sale which Angela Gazivoda bought the 92,180-square-foot, 94-unit rental (D1) on 955 Sheridan Avenue for $12 million from Richard Goldberg and Andrew Goldberg on July 5, 2022. Of those four items, two were loans above $5 million totaling $14.5 million. The most recent of the two was Angela Gazivoda in which borrowed $9 million from Ridgewood Savings Bank secured by the 92,180-square-foot, 94-unit rental (D1) on 955 Sheridan Avenue on July 5, 2022.

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