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.
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).