Westbridge Realty Group Files Plans for Three 99-Unit Buildings in the Bronx – Commercial Observer
New York City-based real estate development firm Westbridge Realty Group has filed plans to build three 99-unit residential buildings on a development site in the Bronx’s Soundview neighborhood, the latest example of the trend to cap multifamily projects at 99 units to reap maximum benefit from the city’s 485-x tax incentive.
Steven Westreich, president and founder of Westbridge, filed plans this week with the New York City Department of Buildings (DOB) to build a 13-story, 99-unit residential building at 851 Rosedale Avenue; a 13-story, 99-unit building at 831 Rosedale Avenue, also known as 600 Noble Avenue; and a 12-story, 99-unit building at 863 Soundview Avenue, also known as 829 Soundview Avenue. If approved, the projects would produce a total of 297 units in Soundview.
The project at 851 Rosedale Avenue would include nine apartments on each of the third through 13th floors, as well as 50,687 square feet of commercial space and rooftop space, according to the DOB filing. The other two buildings would also each feature 50,687 square feet of commercial space, but further amenities were unclear.
851 Rosedale Avenue and 829 Soundview Avenue are adjacent properties, while 831 Rosedale Avenue is a block south.
Leandro Nils Dickson is listed as the architect for each building filing. Spokespeople for Westbridge and the architecture firm did not immediately respond to requests for comment.
While it’s unclear whether Westbridge plans to build the project using the 485-x tax abatement, signs point to yes due to the 99-unit nature of the filings. Many developers across New York City have capped their projects at 99 units to avoid what they say are expensive construction wage mandates under the 485-x abatement for projects with 100 or more units.
There’s plenty of those 99-unit projects in the Bronx alone.
Just last month, the Grun Group filed plans with the DOB to bring a pair of 99-unit residential towers to the Bronx’s Woodlawn Heights neighborhood at 4241 Webster Avenue and 4230 Peters Place, while local developer Vilson Lumaj purchased 761-769 East Tremont Avenue in June to build two 99-unit buildings.
Also in June, Altmark Group sold three adjacent lots in Mott Haven to be redeveloped into a series of ground-up, 99-unit housing developments.
Westbridge itself is no stranger to 99-unit projects, as the company filed plans in May to build a 99-unit residential building at 4388 Broadway in Washington Heights, Manhattan.
Isabelle Durso can be reached at idurso@commercialobserver.com.
