RXR Realty (RXR), a leading real estate owner, operator and developer in the New York tri-state area, broke ground Wednesday on its inaugural South Bronx development, a future residential building located at 2413 Third Ave.
Situated next to the Third Avenue Bridge and minutes from the 6 train, the 27-story, 200-unit tower will designate 60 units as affordable apartments for middle income households. It will feature 81 on-site enclosed parking spaces and electric vehicle charging stations and 721 square-feet of retail space. The project is slated for completion in 2023.
This summer, RXR and Bank of America closed on a $75.2 million construction loan to fund the development of 2413 Third Ave.
“As the South Bronx continues to grow, it is crucial to see increased direct investment in affordable housing to support vibrant neighborhoods like Mott Haven,” said U.S. Rep. Ritchie Torres. “I am proud to celebrate the groundbreaking of over 60 affordable units for middle income households that will provide stability and opportunity for Bronx residents. I look forward to seeing continued investment in affordable housing in the South Bronx in order to lift up working families.”
The building will feature an open concept cafe and gallery space on the ground floor, a state-of-the-art fitness center, flexible common area, and electric vehicle charging stations. Units will be equipped with stainless steel appliances, white oak flooring, matte black iron fixtures and subway tiling. The 145,643-square-foot development will also feature exterior amenity areas, including landscaped seating areas and lounges, rooftop grilling, dining areas and a gaming space. The tower is centrally located within walking distance of the 4/5/6 transit lines and one block from the Major Deegan Expressway.