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Ariel Closes Sale of Rent-Stabilized South Bronx Multifamily
Ariel Property Advisors arranged the $12,150,000 sale of 725-737 Fox St., a rent stabilized multifamily property in the Longwood section of the emerging South Bronx market.
An Ariel team led by founding partner Victor Sozio, director Jason M. Gold, founder and president Shimon Shkury and director Daniel Mahfar represented the seller. The buyer wasn’t disclosed.
The pair of adjacent elevator buildings totals 104,400 square feet and features 106 residential apartments, encompassing 20 studio, 14 one-bedroom, 60 two-bedroom and 12 three-bedroom units. The property’s penthouse units are duplex apartments with balconies offering Manhattan skyline views.
The properties are governed by NYC Housing Development Corporation/Housing Preservation & Development regulatory agreements and each contain J-51 tax benefits.
“The South Bronx has become one of the most attractive areas in New York City for multifamily investment,” said Gold.
- ◦Sale/Acquisition

