A Bronx Tale: Rents on the Rise

210 E. 135th St. rendering

NEW YORK CITY—Cheskel Scwimmer’s Chess Builders has received a $140 million construction loan for its new high-rise development at 210 E. 135th St. in the Mott Haven neighborhood of the South Bronx. The financing will pay for construction of two 25-story towers comprising 430 rental units including 129 affordable housing apartments. The project will also have 24 hotel rooms, 5,000 square feet for commercial use and 210 parking spaces.

The development is near the subway and close to Bruckner Boulevard, the neighborhood’s main corridor for retail, bars and restaurants. St. Mary’s Park, the BronxArtSpace and the South Bronx Farmer’s Market are also nearby. Plus, the project will benefit from its proximity to Manhattan and less expensive rental rates.