MELROSE—The world’s most famous pancake and breakfast chain is opening another location in the South Bronx.
IHOP is putting finishing touches on what will be its 6th Bronx location at 247 E 149th Street at Michaelangelo Apartments directly across from Lincoln Hospital.
The opening of a new restaurant during the COVID-19 pandemic is despite possible closures of other locations.
Back in the Fall, IHOP identified 100 IHOP restaurants across the country that were no longer financially viable in and were facing possible closures due to the pandemic and the ensuing economic crisis given lockdown restrictions put into place limiting indoor seating or outright prohibiting it.
But given the location on 149th Street and directly across the street from Lincoln Hospital, finding willing customers shouldn’t be a problem given the high pedestrian traffic in the area.
Hostos Community College is also located less than two blocks away too not to mention the office buildings in the area.
Back in 2017, the 500 unit mixed residential and commercial Michaelangelo Apartments, built in 1974, sold for $78 million—a record for a residential property in The Bronx.
The new owner, MDG Construction and Design, is a company that specializes in preserving affordable housing in rapidly gentrifying areas.
Shortly after the purchase, MDG pumped $160 million to upgrade the complex from mechanicals to new kitchens and bathrooms for apartments, landscaping, new lobbies, and upgraded security features.
While we always support local businesses and mom and pop shops, for those that like to indulge at IHOP, at least they don’t have to leave their own neighborhood.
But we’ll still get our fix at Perry’s on 161st or Jimbo’s.
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