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3022 Corlear Ave - 3026 Corlear Avenue | Kingsbridge Bronx 0.32 Acres of Residential Land Offered at $5,250,000 in Bronx, NY 10463
Investment Highlights
- 4-lot contiguous assemblage · 13,776 SF · 100.92 ft unbroken frontage · uniform 136.5 ft depth
- $106/BSF — at or below Bronx market comps of $107–$140/BSF · Ariel Property Advisors 2024–2026
- 1 Train · 231st & 238th St stations · under 25 min to Midtown · fee simple · clean title
- 49,594 BSF (R6 + City of Yes UAP) · upside to 63,370 BSF via R7-1 rezoning · 55–85 units
- Kingsbridge: Tishman Speyer under construction + Armory unanimously approved Oct 2025 (500 units)
- Unified family ownership · single PSA for all 3 lots · Block 5709 Lots 16, 17 & 18
Executive Summary
https://corlearlistingposter.netlify.app/
OPPORTUNITY OVERVIEW
A rare four-lot contiguous assemblage offering 13,776 SF of land with 100.92 linear feet of unbroken Corlear Avenue frontage and a uniform 136.5-foot lot depth across all three parcels. The existing circa-1901–1920 residential structures carry minimal improvement value — this is effectively a development land acquisition. Unified family ownership across all three addresses provides a clean, uncomplicated path to closing with a single Purchase & Sale Agreement.
DEVELOPMENT POTENTIAL
R6 zoning with City of Yes Universal Affordability Preference (UAP) bonus delivers 49,594 buildable SF (FAR 3.60), supporting 55–65 residential units in a 6–8 story ground-up building. Rezoning to R7-1 via ULURP creates upside to 63,370 BSF (FAR 4.60), supporting 70–85 units. The uniform 136.5-foot lot depth creates a full, rectangular development envelope superior to irregular or flag-lot assemblages common in this market.
Zoning Summary:
- R6 Base (As-of-Right): FAR 2.43, 33,474 BSF, 38–45 units
- R6 + Inclusionary Housing: FAR 3.00, 41,328 BSF, 48–56 units
- R6 + City of Yes UAP: FAR 3.60, 49,594 BSF, 55–65 units
- R7-1 + UAP (Rezoning Upside): FAR 4.60, 63,370 BSF, 70–85 units
PRICING
Asking: $5,250,000 | $106/BSF (R6 UAP basis) | $83/BSF (R7 basis)
Current Bronx development land market: $107–$140/BSF (Ariel Property Advisors, 2024–2026). This portfolio is priced at or below market — providing a defensible acquisition basis for both affordable and market-rate development programs.
PROPERTY DETAILS
- Total Lot Area: 13,776 SF (3 parcels / 4 lots)
- Street Frontage: 100.92 linear feet (unbroken)
- Lot Depth: 136.5 ft (uniform across all parcels)
- Zoning: R6 | Community District: CD 8 | Council District: CD 11
- BBL: 2-5709-16 | 2-5709-17 | 2-5709-18
- Existing GFA: 3,778 SF total (minimal improvement value)
- Transit: 1 Train — 231st & 238th Street stations (25 min to Midtown)
- Ownership: Fee Simple | Unified family ownership | Clean title
MARKET CONTEXT — KINGSBRIDGE
- Tishman Speyer: 339-unit, 279,000 SF residential building under construction at 160 Van Cortlandt Park South (broke ground Dec 2024)
- Kingsbridge Armory — "El Centro": 570,000 SF armory unanimously approved by NYC City Council (Oct 2025) for conversion to community hub + 500 residential units. Construction begins 2027
- Active new construction: 45-unit, 7-story building permitted at 3242 Riverdale Ave (May 2025) — directly comparable R6 project, same neighborhood
- Bronx development land volume: +39% YoY in 2024, +70% YoY in H1 2025 (Ariel Property Advisors)
- Bronx avg $/BSF hit record $107 in 2024 — new all-time high
COMPARABLE TRANSACTIONS
- 1876-1880 University Ave, Bronx (Active 2026): $4M / ~28,500 BSF = $140/BSF — smaller lot, same market
- 36 Bruckner Blvd, Mott Haven (Oct 2024): $9.85M / 75,250 BSF = $131/BSF
- 114 Bruckner Blvd, Mott Haven (Dec 2025): $7M / 57,190 BSF = $122/BSF
TRANSACTION TERMS
- Asking Price: $5,250,000
- Earnest Money Deposit: 1% ($52,500)
- Due Diligence Period: 45 Days
- Closing Period: 90 Days
- Ownership: Fee Simple
- Sale Type: Portfolio (all 3 lots conveyed simultaneously)
- Broker Commission: Seller will only pay commission to its selling representative broker/agent - Buyer Broker to obtain commission from purchaser/buyer.
BROKER
Francis Caamano | Licensed Real Estate Broker
917-209-6757 | francisacaamano@gmail.com
Also listed on Crexi: crexi.com/properties/2497628
Property Facts
1 Lot Available
Lot 16, 17, 18
| Price | $5,250,000 | Lot Size | 0.32 AC |
| Price Per AC | $16,406,250.00 |
| Price | $5,250,000 |
| Price Per AC | $16,406,250.00 |
| Lot Size | 0.32 AC |
Three contiguous parcels — Block 5709, Lots 16, 17 & 18 — comprising 13,776 SF of land with 100.92 ft of unbroken street frontage and uniform 136.5 ft lot depth. R6 zoning with 49,594 buildable SF under City of Yes UAP. Upside to 63,370 BSF via R
Description
EXCLUSIVE DEVELOPMENT ASSEMBLAGE — KINGSBRIDGE, BRONX https://corlearlistingposter.netlify.app/ 3020, 3022, and 3026–3028 Corlear Avenue represents one of the most compelling ground-up residential development opportunities currently available in the Bronx. This four-lot contiguous assemblage offers 13,776 SF of land with 100.92 linear feet of unbroken Corlear Avenue frontage and a uniform 136.5-foot lot depth across all three parcels — a rare, full-width development canvas in a neighborhood experiencing transformational institutional investment. THE SITE All three parcels sit on Block 5709 (Lots 16, 17 & 18) in the Kingsbridge neighborhood of the Northwest Bronx. The existing circa-1901–1920 residential structures carry minimal improvement value relative to the land. The site functions effectively as a development-ready land acquisition, with full city utilities in place and clean, unified family ownership across all three addresses. DEVELOPMENT DENSITY Zoned R6 with eligibility under NYC's City of Yes Universal Affordability Preference (UAP) program, the assemblage supports 49,594 buildable SF at FAR 3.60 — equivalent to 55–65 residential units across a 6–8 story purpose-built building. The uniform 136.5-foot lot depth creates a superior rectangular development envelope compared to the irregular lots common in this market. An R7-1 rezoning path via ULURP delivers additional upside to 63,370 BSF (FAR 4.60), supporting 70–85 units. ZONING BREAKDOWN (13,776 SF Lot Area): · R6 Base As-of-Right: FAR 2.43 ? 33,474 BSF ? 38–45 units · R6 + Inclusionary Housing: FAR 3.00 ? 41,328 BSF ? 48–56 units · R6 + City of Yes UAP: FAR 3.60 ? 49,594 BSF ? 55–65 units ? · R7-1 + UAP (Rezoning): FAR 4.60 ? 63,370 BSF ? 70–85 units PRICING & MARKET CONTEXT At $5,250,000, this portfolio prices at $106/BSF (R6 UAP basis) — at or below the current Bronx development land market range of $107–$140/BSF (Ariel Property Advisors 2024 Year-End Report). The most directly comparable active assemblage in the Bronx — 1876–1880 University Avenue — is currently listed at $140/BSF on a smaller, shallower lot. KINGSBRIDGE NEIGHBORHOOD PIPELINE · Tishman Speyer: 339-unit, 279,000 SF residential building under construction at 160 Van Cortlandt Park South (Dec 2024) · Kingsbridge Armory "El Centro": 570,000 SF landmark unanimously approved by NYC City Council (Oct 2025) for 500-unit mixed-use redevelopment. Construction begins 2027 · Boen Construction: 45-unit, 7-story residential building permitted at 3242 Riverdale Avenue (May 2025) — identical R6 zoning, same neighborhood, directly comparable scale · Bronx development land volume: +39% YoY in 2024, +70% YoY in H1 2025 TRANSIT The 231st and 238th Street stations on the 1 train are within walking distance, providing direct service to the Upper West Side and Midtown Manhattan in under 25 minutes. Transit proximity is the single most consistent rent premium driver in the Bronx multifamily market. TRANSACTION STRUCTURE · Asking Price: $5,250,000 · BBL: 2-5709-16 | 2-5709-17 | 2-5709-18 · Ownership: Fee Simple | Unified family ownership · All three lots conveyed simultaneously via single PSA · Earnest Money: 1% | Due Diligence: 45 Days | Closing: 90 Days · Broker Commission - Seller will pay commission to its sellers representative - buyer side broker/agent to obtain commission from purchaser/buyer. BROKER Francis Caamano | Licensed Real Estate Broker | NY, NJ & GA 917-209-6757 | francisacaamano@gmail.com Also listed on Crexi: crexi.com/properties/2497628
Property Taxes
| Parcel Number | 05709-0016 | Improvements Assessment | $21,626 |
| Land Assessment | $8,948 | Total Assessment | $30,574 |
Property Taxes
Presented by
Lafayette Realty Partners LLC
3022 Corlear Ave - 3026 Corlear Avenue | Kingsbridge Bronx
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