New York & Tri-State CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

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

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. 

Connect

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 GlobeSt.com 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