A nine-story mixed-use building with 73 apartments is headed for 1712 Jerome Avenue in Mount Hope, where demolition permits for the existing structure were filed this month ahead of new construction. The proposed building would rise 84 feet and include 42,901 square feet of residential space alongside 6,402 square feet of commercial space, with an overall footprint of 49,303 square feet, according to New York YIMBY.
The site sits between East 175th Street and Clifford Place, directly adjacent to the elevated 176th Street subway station served by the 4 train, per the same outlet. Shimon Greenfeld of SCG Realty Inc. is listed as the owner behind the applications, with Nikolai Katz Architect serving as architect of record. The proposed structure will use a concrete-based build and include a 20-foot rear yard, and the 73 residences, averaging 587 square feet apiece, are most likely rentals based on their unit scope, the outlet reports. No estimated completion date has been announced.
The filing follows a $3.5 million ground lease that developer SCG Capital, led by Greenfeld, signed in July with site owner 1712 Jerome LLC, according to PincusCo. That lease arrangement gave SCG Capital control of the parcel without an outright land purchase. Before the ground lease, owner entity Bawabeh Brothers had refinanced the property with a $12.5 million mortgage from Citibank in October 2025, following an earlier $12.2 million loan from Popular Bank in November 2024, PincusCo's records show.
A Developer With a Bronx-Wide Pipeline
Greenfeld and SCG Capital have been on a building spree across the borough, filing plans for more than 540,000 square feet across 69 projects over a 24-month span through mid-2026, including major residential proposals in Bedford Park and Bronxwood. Architect Nikolai Katz has kept pace on the design side, filing 25 New York City building permit applications between March and July 2026, with 92 percent designated for residential use, per Hoodline's own reporting. Katz was also the architect of record on a separate Bronx project, a 195-unit high-rise planned for East 152nd Street, and on a 90-unit tower proposed for Pitkin Avenue in East New York.
Why Jerome Avenue Is Zoned for This Kind of Density
The 1712 Jerome Avenue parcel falls within the 92-block rezoning zone created by the Jerome Avenue Neighborhood Plan, which the New York City Council adopted in March 2018. That plan replaced 1961-era low-density auto-industrial and commercial zoning with high-density mixed-use designations along a two-mile corridor between 165th and 184th streets, backed by a $189 million municipal capital investment commitment for local infrastructure, parks, and schools, according to the NYC Department of City Planning.
Under Mandatory Inclusionary Housing Options 1 and 3 enacted alongside the rezoning, new residential developments in the corridor must reserve 20 to 25 percent of residential floor area for affordable housing serving households earning 40 to 60 percent of Area Median Income, per city planning documents. Whether the 1712 Jerome Avenue project will meet that minimum set-aside or go further remains an open question, as does what commercial tenant will ultimately fill the ground-floor retail space. Land values along the corridor climbed an average of 241 percent between 2015 and 2020 during the plan's initial rollout, according to Conflict Urbanism, underscoring the speculative pressure that has built along Jerome Avenue since the remapping.
Transit History and Local Safety Concerns
The 176th Street station next door has anchored this stretch of the Bronx since it opened in June 1917 as part of the city's Dual Contracts transit expansion, per Wikipedia's history of the IRT Jerome Avenue Line. The elevated tracks have shaped the corridor's physical character for more than a century, long before the 2018 rezoning brought new residential density to the streets below.
That transit corridor has also been the backdrop for recent public-safety incidents. Hoodline previously reported on a robbery aboard a 4 train arriving at 176th Street, and separately detailed a shooting outside a Jerome Avenue storefront that left a 49-year-old man wounded. The NYPD's 46th Precinct, which covers Mount Hope and surrounding West Bronx neighborhoods, recorded 120 major violent index offenses year-to-date through late July, a 13.2 percent increase over the same period in 2025, Hoodline's crime data review found.
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