Brookfield’s South Bronx $950M Residential Project Starts Move-Ins - The Jewish Voice
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Tuesday, January 31, 2023

Brookfield’s South Bronx $950M Residential Project Starts Move-Ins

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By: Hadassa Kalatizadeh

The first phase of the colossal luxury residential project in the South Bronx has officially launched move-ins.

As reported by Crain’s NY, on Thursday, Brookfield Properties announced the grand opening of Third at Bankside– the name given to the first batch of towers in the colossal $950 million residential project.  The 4.3-acre development will add some 458 residential units, including 134 affordable units to the Mott Haven waterfront.  The initial three buildings, based at 2401 Third Ave., each range from 17 to 25 stories tall, supercharging the borough. Building amenities include a fitness center, event rooms, a pool deck and outdoor grilling stations.

Third at Bankside, with views of the Harlem River and the city, offers studios to three bedrooms.  There is currently a housing lottery active for the property’s affordable units. These include: 47 studio apartments for $1,795 a month for persons with an income between $61,543 and $124,150; 49 one-bedrooms going for $2,200 and $2,350 per month for persons with incomes between $75,429 and $139,620; and 38 two-bedrooms for rent at $2,695 to $2,900 monthly for persons making between $92,400 to $167,570, as per Brookfield.

The second phase of the project will add another 921-unit building, dubbed Lincoln at Bankside. That 25-story building topped out in November and is slated to open sometime in 2023.  That building will have 30 percent of its units rent-restricted.

The completed project, named Bankside, is touted as one of the largest private investments in the borough’s history. Once complete it will include a total of 1,379 apartments, with about 13,000 square feet of ground-floor retail space, as well as a public waterfront park spanning over 34,000 square feet.  As per Crain’s, Bankside will also include a workforce development and community center named the Empowerment Center, which will host events like job-training workshops and movie showings. The center, which is slated to open up this summer, will also feature office space. Brookfield properties had purchased the land for the project in 2018 from Keith Rubenstein and the Chetrit Group for $165 million.

The project is by far the most ambitious and largest project coming to Mott Haven.  Other notable projects coming to the neighborhood include: JCS Realty’s 447-unit project at 138 Bruckner Blvd., a 200-unit development at 2413 Third Ave. by RXR Realty, and Anshel Fridman’s 89-unit development at 91 Bruckner Blvd.


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