City Sells Bronx Parcels Totaling 94,000 SF; Cinema Complex Planned

NEW YORK CITY-Two adjacent parcels in the Crotona section of the Bronx have been sold by the city to a private developer that plans to construct a retail/entertainment complex on the site. Buyer CBC Associates LLC will spend $2.5 million to develop the land.

The property consists of two parcels of land on the northwest (Lot 46) and southwest (Lot 10) corners of Boston Road and East 175th Street, just south of the intersection of the Cross-Bronx Expressway, Boston Road and Southern Boulevard. The former NYC Transit Authority’s West Farms Bus Depot, which has long been vacant and an eyesore to the community, is located on Lot 10.

CBC paid the New York City Economic Development Corp. $220,000 for the two lots. An EDC spokesperson tells GlobeSt.com the price reflects downward adjustments made by the city to allow for asbestos abatement and demolition of the bus barn. Bronx borough president Adolfo Carrión Jr. is also providing $250,000 toward the demolition of the dilapidated two-story building to make way for the project.