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Ariel Closes Sale of Morrisania Retail Assemblage
Ariel Property Advisors arranged the $22.75-million sale of a 23,339-square-foot retail assemblage spanning an entire blockfront at 1031-1049 Westchester Ave. and 1057 Southern Blvd. in the Bronx’s Morrisania neighborhood.
An Ariel team of Jason M. Gold, Victor Sozio and Daniel Mahfa brokered the transaction on behalf of the buyer/ Cushman & Wakefield’s Josh Neustadter and Jonathan Squires represented the seller.
“This retail block has over 350 feet of prime frontage on one of the busiest intersections in the entire Bronx,” Gold said. “Anchored by Chase on the corner of Westchester Avenue and Southern Boulevard, the assemblage also includes multiple ground floor retail tenants as well as a nonprofit office tenant on the second and third floors of 1057 Southern Blvd.”
In addition to income generated from the existing tenants, current zoning allows for an additional 50,861 square feet of air rights, or 74,2000 buildable square feet.
- ◦Sale/Acquisition

