Bronx, NY Highcap Group has completed a 3-lot development assemblage on the southeast corner of Arthur Ave. and East 179th St. in the Belmont neighborhood. Over a one year period, Jonathan Bichoupan and Guy Vardi assembled a corner site with over 304’ of wraparound frontage for a reputable affordable housing developer.
After closing on the corner parcel located at 2017Arthur Ave. in June, the brokers presented the opportunity for the buyer to purchase the adjacent lots on either side of the site, 612 East 179 St. & 2016 Arthur Ave., which had increased the floor plate to a total of 19,900 s/f.
With R7-1 zoning plus additional air rights, the new development will have 120,000 buildable s/f including the community facility bonus.
The buyer is a developer of affordable housing communities who has built–and currently manages–thousands of units throughout the borough. Current plans call for an affordable senior housing residence to be developed on the site, the first in NYC to fully incorporate biophilic elements in its design.