After breathing new life into Brooklyn with The Frederick, The Williamsburg Hotel, and 25 Kent, Toby Moskovits’ Heritage Equity Partners turns its attention to the Bronx for the first time. Ms. Moskovits and business partner Michael Lichtenstein closed on 286 Rider Avenue, an industrial building in Mott Haven, for $10 million in September 2019 with grand plans: Barely three months after permits for the eight-story, 105-unit building were filed, Ms. Moskovits filed demolition permits for the one-story warehouse currently on-site.
A rendering released showing a design by Fischer Makooi Architects, the firm founded by the late Karl Fischer, shows a red brick building with oversized windows and private balconies for select units. Amenities will include a mail and package room, a recreation room, a greenhouse, a gym, and a roof terrace with hot tubs. The project will also offer an enclosed parking area, a bike room, and easy access to the 4/5/6 trains at 138th Street.
Google Earth aerial showing the location of the site in Mott Haven
We hesitate to project a completion date for the new project, given the freeze on non-essential construction throughout New York at this time. However, before the city shut down, Mott Haven was making the transition from a manufacturing district to a residential one. A short distance from the site, luxury condominium The Joinery rose on the former site of two warehouses and saw its sellout upped to $27.4 million; a one-bedroom apartment is currently available for $599K.
On the rental front, The Crescendo complex took its name from the piano manufacturers that once populated the neighborhood. Prices range from $2,650/month for studios to $3,550/month for two-bedrooms, and a virtual tour is available for apartments and an assortment of amenities to rival its Manhattan, Brooklyn, and Long Island City counterparts. Further south, Deegan Towers topped out at 25 stories high last fall. The project will include hotel rooms on floors 2-3, rental apartments the rest of the way up, abundant on-site parking, and a rooftop terrace that promises gorgeous views of the Harlem River and the Upper Manhattan skyline.
Mott Haven waterfront with Deegan Towers in the distance
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