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RXR Realty (RXR), one of New York City's largest commercial landlords, continues to grow its residential portfolio with the groundbreaking of 2413 Third Avenue, a 200-unit multifamily venture in the Mott Haven neighborhood of the Bronx. The forthcoming 27-story tower is the latest of a necklace of residential high-rises rapidly reshaping the South Bronx waterfront.

Situated at the foot of East 133rd Street overlooking the Third Avenue Bridge, 2413 Third Aveue is located an earshot away from Brookfield Properties' 1,350-unit Bankside development and a stone's throw from the two-towered rental The Arches which kicked off leasing last year. According to a press release from the team, RXR secured construction financing for the 145,643-square-foot endeavor this past summer with a $75.2 million loan from Bank of America.

“We are thrilled to break ground today on our first entry into the Bronx market and celebrate the creation of 200 new apartments and retail space in the vibrant Mott Haven neighborhood. As the South Bronx’s population grows, RXR welcomes the opportunity to meet this demand and provide accessible, smartly-designed, and amenitized homes,” said Joanne Minieri, Senior Executive Vice President, Chief Operating Officer of Development and Construction, RXR Realty.

2413 Third Avenue is designed by the acclaimed multi-disciplinary firm of CetraRuddy Architecture, designer of many new and notable residential towers in Manhattan that include Rose Hill, Dahlia, and One Madison. Newly released renderings show a modern, energetic design of angling facets resting on a contextual masonry-clad podium. “The building design is rooted in the traditions of the vibrant community of Mott Haven," says Nancy J. Ruddy and John Cetra, principals of CetraRuddy Architecture. "A bold massing creates a sculpted presence that both engages the sky while opening up to pedestrian activity."

Sixty of the building's 200 units will be rent-stabilized and are allocated for middle-income households. Homes will be endowed with modern finishes, stainless steel appliances, white oak flooring, and oversized windows which will bestow select units views of the Harlem River. Shared resident perks include enclosed parking for 81 vehicles, electric vehicle charging stations, a lounge, a fitness center, and several landscaped outdoor areas with seating, grilling, and dining areas. To further enliven the former manufacturing area, the ground floor will sport a 721-square-foot retail and gallery space. "Art is an integrated design element throughout the interior and exterior to enliven the street and the resident experience," explains the architects. The project is slated for completion in 2023.