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New York & Tri-State  + Uptown/Bronx  + Apartments  | 

Ariel Closes Sale of Bronx Multifamily Portfolio for $12M

Ariel Property Advisors arranged the sale of a 10-building, 87,899-square-foot multifamily portfolio at 818-862 Beck St. in the Longwood section of the South Bronx. The Beck Street Portfolio sold for $12.1 million, which translates to $144,047 per unit, or $138 per square foot. 

An Ariel team of Victor Sozio, Jason M. Gold, Shimon Shkury and Daniel Mahfar negotiated the transaction. 

“The sale of the Beck Street Portfolio is a testament that the demand for multifamily properties in the Bronx is still very much intact,” said Gold. “This was an opportunity for an investor to assemble almost a whole city block situated on a quiet street in the South Bronx.” 

The 10 adjacent buildings in the package consist of 84 apartments, ranging from one to four bedrooms. The portfolio benefits from a 2B protected tax class as well as favorable zoning, which offers roughly 36,000 square feet of air rights. 


Inside The Story

Ariel Property Advisors

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition