RXR Realty has broken ground for its inaugural South Bronx development, a future residential building located at 2413 Third Avenue.

Situated next to the Third Avenue Bridge and minutes to the 6 train, the 27-story, 200-unit tower will designate 60 units as affordable apartments for middle income households. It will feature 81 on-site enclosed parking spaces and electric vehicle charging stations and 721 s/f of retail space. The project is slated for completion in 2023. 

This summer, RXR and Bank of America closed on a $75.2 million construction loan to fund the development of 2413 Third Avenue.

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