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Deals & Dealmakers

Moskovitz to build new Bronx rental

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.

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