Ariel Closes Sales of Seven Bronx Multifamily Properties
Ariel Property Advisors closed two Bronx transactions totaling $15.325 million. They included the St. Ann’s Portfolio, comprised of six multifamily buildings in Mott Haven, and 1701 Parkview Ave., a new construction multifamily building in Pelham Bay.
St. Ann’s Portfolio, six multifamily buildings at 225, 278, and 282 St. Ann’s Ave. and 510, 518, and 605 E. 138th St., sold to Heritage Affordable Communities for $8.625 million. The seller was Castellan Real Estate Partners. Ariel founding partner Victor Sozio served as lead broker, working with president Shimon Shkury and investment sales directors Jason M. Gold and Daniel Mahfar.
1701 Parkview Ave. is a new construction, seven-story apartment rental that sold for $6.7 million. Mahfar was lead broker, supported by Gold and Sozio.
“The attractive metrics for these deals are good indicators of pricing for older and new construction multifamily properties in dynamic areas of the Bronx,” said Mahfar.