Developer Files Plans For 43-Unit South Bronx Building

Published on February 24, 2017, 4:55 pm
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Private developer Paul Gjonaj filed plans to build a 43-unit apartment building in South Bronx, according to property records filed with the city Friday.

The proposed six-story, 30,749-square-foot building at 1181 Sherman Avenue lies on a vacant lot just east of the Grand Concourse and south of 167th Street. Plans show the building would feature eight apartments on each of the top five floors and a recreation room on the first floor. Badaly Architects will design the project.

Gjonaj purchased the property earlier this year, records show, for just under $1.5 million.

The development comes at time when investors and developers have shown an increased interest  in Bronx real estate. According to a report released by the borough president, $2.3 billion of investment flowed into Bronx in 2015, most of which went to residential development.

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