Developer Toby Moskovitz has purchased her first Bronx development site.
Best known for her commercial work in Brooklyn, the Heritage Equity principal is planning a 120,000 s/f apartment property at the site at 286 Rider Avenue in the Mott Haven neighborhood.
Capital Property Partners announced the sale of the site for $10 million. the firm’s Michael Saidian represented the seller, Robert Newblatt.
Daniel Rahmani, also of Capital Property partners, represented Moskovitz. The site is currently occupied by a 20,555 s/f single-story story warehouse with over 84,000 s/f of residential air rights.
According to the brokers, Moskovitz is planning to clear the site to make way for a 120,000 s/f rental property containing 140-units.
Located in an Opportunity Zone, the site is surrounded by signs of regeneration as developers flock to the Bronx to build both affordable and market rate properties.