2532 Davidson Avenue

Description

**DEVELOPMENT FUNDAMENTALS** This 5,890 sq ft corner lot represents a rare assemblage opportunity in one of the Bronx's highest-density, most transit-accessible corridors. The current 3-family building (3,614 sq ft) sits on a lot with significant underutilization. Under current zoning, the site supports FAR 2.43, enabling approximately 14,313 sq ft of buildable space—representing 10,699 sq ft of additional development capacity above the existing structure. Adjacent parcels at 2536 and 2540 Davidson Avenue are also available for purchase, creating a multi-lot assemblage opportunity that could support FAR 3.0 zoning, substantially increasing development potential and project economics. **MARKET FUNDAMENTALS & RENTAL DEMAND** The Fordham submarket demonstrates exceptional rental fundamentals: 97.25% renter-occupied units, median rent of $1,365/month, and 19,033 households within the immediate neighborhood. This persistent demand underpins strong income during any hold period and provides downside protection during repositioning phases. The area maintains 100,957 persons per sq mi density—among the highest in the city. **STRATEGIC LOCATION & TRANSIT ACCESS** 2532 Davidson Avenue anchors a major commercial and employment hub with 1,257 establishments, multiple subway lines (2, 4, 5, D trains), and proximity to Fordham University, the New York Botanical Garden, and Bronx Zoo. This location attracts consistent foot traffic, institutional employment, and tourism-related activity, supporting both residential and mixed-use development scenarios. **ASSEMBLAGE & REDEVELOPMENT POTENTIAL** The availability of adjacent parcels (2536 and 2540) creates a rare opportunity to assemble a larger development site. Multi-lot consolidation enables economies of scale, optimized site planning, and potential for higher-density residential, mixed-use, or commercial development. Current income from the 3-family building provides cash flow during acquisition and entitlement phases. **INVESTMENT THESIS** Strong rental demand, high neighborhood density, strategic transit access, and available adjacent parcels position this site for significant value creation through repositioning, renovation, or ground-up redevelopment. The Bronx rental market continues to show supply constraints and persistent demand, making this assemblage opportunity particularly attractive for experienced developers seeking Bronx exposure with clear path to value.