1940 Jerome Avenue, The Bronx
Apartment building · 115 units · built 2025 · Block 2853, Lot 12.
Building permits
- New Building — Mid-Rise, filed Aug 22, 2022, 115 units, 13 stories, described as “Hub consultation meeting held and accepted on 8/8/2022. Propose new 13-story plus cellar mixed-use building. Obtain new c of o. This project is mandatory inclusionary, 100% low income housing, and quality housing.”
- Alteration, filed Apr 21, 2025, estimated cost $211K, described as “Installation of 53.46 kw solar energy system on roof. No change of occupancy, use or egress.”
- Alteration, filed Dec 5, 2024, described as “Installation of temporary pipe scaffold as per plans. No change in use, egress or occupancy.”
- Alteration, filed Sep 23, 2024, estimated cost $20K, described as “Equipment use: dual 7000# capacity personnel/material hoists during NB const, filed sep. Hoists shall comply with ch #33 of the NYC bc. No change in use, occupancy or egress under this application. Elevator application submitted separately”
- Alteration, filed Aug 12, 2024, estimated cost $10K, described as “Installation of a temporary roof protection per plan submitted. Work shall comply with 2022 building codes chapter 33. No change in use, egress and/or occupancy with this application”
- Alteration, filed Aug 8, 2024, estimated cost $6K, described as “Installation of a temporarily heavy-duty sidewalk shed per plan submitted. Work shall comply with 2022 building codes chapter 33. No change in use, egress and/or occupancy with this application.”
- Alteration, filed Jul 25, 2024, estimated cost $5K, described as “Installation of a temporary construction fence per plan submitted. Work shall comply with 2022 building codes chapter 33. No change in use, egress and/or occupancy with this application.”
- Alteration, filed Apr 19, 2024, estimated cost $750, described as “Heavy duty sidewalk shed during NB const, filed sep. Sidewalk shed shall comply with ch #33 of the NYC bc. No change in use, occupancy or egress under this application. Dot permits by others for shed installed on sidewalk/roadway”
- Alteration, filed Apr 19, 2024, estimated cost $750, described as “Heavy duty sidewalk shed during bldg alteration, filed sep. Sidewalk shed shall comply with ch #33 of the NYC bc. No change in use, occupancy or egress under this application.”
- Demolition, filed Jun 29, 2023, estimated cost $300K, described as “Full demolition of one story structure, using hand held and mechanical means to assist.”
- Demolition, filed Jun 22, 2023, estimated cost $300K, described as “Full demolition of one story structure using hand held and mechanical means to assist.”
Property taxes
- Assessment
- $80,100
- 2026–27 tax
- $996
- Market value (city estimate)
- $178,000
- Taxable value
- $8,010
- Assessed land
- $80,100
Tax breaks
- 420-c exemption, through Jun 30, 2064, about $8,967 a year below the full tax.
Zoning
C4-4D: floor area ratio 9.00 built, above the 6.02 base zoning allows, which bonuses, transfers or older rules can permit.
Flood zone
Current FEMA flood map: zone X, minimal flood hazard.
Recent sales
- Mar 27, 2024: $7,422,118
- Dec 30, 2021: $5,450,000, sold with other lots
- Aug 22, 2018: $1,860,000
- May 16, 2016: $550,000
Open-market sales since 2016, from the Department of Finance’s sales files.
In the news
Construction Underway on La Olazul at 1940 Jerome Avenue In Mount Hope, The Bronx, New York YIMBY, Nov 17, 2024.