The wheels are starting to turn for a potential home in the Bronx for the newest MLS team, NYC FC. Both the New York Times and the Wall Street Journal are reporting that the team is in early discussions regarding a lot just south of Yankee Stadium.

The identified space, located between the Major Deegan and East 153rd Street, currently houses an underperforming parking garage and a 100,000 square foot factory. The garage is one of five lots in the area owned by the Bronx Parking Development Company. The cash strapped non-profit (created in 2007 as part of the new Yankee Stadium deal) defaulted on a $237M tax-exempt bond last year and has been working with bankruptcy attourneys; with this particular garage not even half full on Yankee game days, alternative uses for the land would help correct their fortunes.

The factory may prove a little trickier, as it houses GAL Manufacturing, an elevator parts company that employs 225. Per the Times, an unnamed source indicated the soccer club has offered to build the company a new factory elsewhere in the Bronx.

The total size of the lot is reportedly nine acres with a proposed stadium capacity of 25,000-30,000. (For comparison, Red Bull Arena is located on 12.34 acres and houses 25,000.) Yankee's President Randy Levine said the site is one of two being looked at in the Bronx, and one of four or five city-wide sites being considered, but cautioned “It’s all at this point very preliminary.”