Permits have been filed for a 17-story mixed-use development at 489 East 152nd Street in the Melrose neighborhood of The Bronx, according to New York YIMBY. The site sits between Third Avenue and Bergen Avenue, in close proximity to the Third Avenue–149th Street subway station, which provides access to the 2 and 5 trains. Joel Steinmetz of Lead It Builders LLC is identified as the owner of record on the filed applications.
ParkPoint Perspective
Permit filings in transit-proximate Melrose reinforce a broader pattern of developer confidence in supply-constrained Bronx corridors with direct Manhattan access. The 2/5 train connection meaningfully supports residential demand fundamentals at this location. Investors may read this as a signal that infill Bronx sites near rapid transit continue to attract mid-scale density plays — a dynamic that puts upward pressure on land values and warrants close attention to entitlement timelines and construction cost exposure at the permit stage.
Source: New York YIMBY