Yitzi Salamon of Builders Group USA files to create 16 units in Kingsbridge Heights

Yitzi Salamon of Builders Group USA submitted a major alteration application to convert a two-unit residential (RES) building at 2764 Webb Avenue in Kingsbridge Heights, Bronx to a 16-unit building. The plan was filed with the New York City Department of Buildings on April 30, 2023 under job number X00854353. The project is described in the filing as: interior conversion [of] an existing three-story and basement residential building.
Yitzi Salamon is one of the most active developers that convert small properties into larger residential properties.

The property

The property with two residential units in Kingsbridge Heights has 4,640 square feet of built space and 7,498 square feet of additional air rights for a total buildable of 12,147 square feet according to a PincusCo analysis of city data. The parcel has two buildings with frontage of 50 feet and is 100 feet deep with a total lot size of 4,999 square feet. The zoning is R6 which allows for up to 2.43 times floor area ratio (FAR) for residential. The city-designated market value for the property in 2022 is $1.4 million.

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 Kingsbridge Heights, The majority, or 57 percent of the 10.6 million square feet of commercial built space are elevator buildings, with walkup buildings next occupying 33 percent of the space. In sales, Kingsbridge Heights has near average sales volume among other neighborhoods with $34 million in sales volume in the last two years and is the 32nd highest in Bronx. For development, Kingsbridge Heights has near average amount of major developments among other neighborhoods and is the 27th highest in Bronx. It had 293,186 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 20 of the 31 commercial properties representing 838,000 square feet of the 1,229,736 square feet. The largest owner is Cristian Herrera, followed by Enver Rexhepi and then Eric Miller. There are no active new building construction projects on this tax block.

The surrounding

Within a 400-foot radius of 2764 Webb Avenue, PincusCo identified two commercial real estate items of interests occurred over the past 24 months. Of those two items, one was for major renovation including a certificate of occupancy change. It was a permit application filed on August 17, 2021 for the $994,655 renovation of 11,559-square-foot residential (R-2) building with 19 residential units at 2783 Webb Avenue. One of those two items was a loan which Ezriel Weinberger borrowed $6.2 million from New York Community Bank secured by the 60,000-square-foot, 55-unit rental (D1) on 2734 Claflin Avenue on March 11, 2022.

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