New York & Tri-State + Uptown/Bronx + Retail | January 3, 2022

GFI Arranges Value-Add Sale in Mott Haven

GFI Realty Services closed the $5.875-million sale of 316-322 E. 149th St., a two-story retail property located in the Mott Haven section of the Bronx. Senior managing director Matthew Sparks represented both the seller, Maria D’Onofrio, and the buyer, a local investor.

Constructed in 1931, the 12,000-square-foot property is comprised of 6,000 square feet of ground floor retail space and 6,000 square feet of office space on the second floor. The asset also boasts 100’ of frontage on East 149th Street in the heart of the HUB, a major commercial district in the area. Additionally, the asset, situated on an 8,600-square-foot lot, has approximately 17,544 square feet of air rights available.

“This acquisition, situated in one of the most dynamic and thriving commercial corridors in the Bronx, is a great value-add opportunity for the buyer,” said Sparks.

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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).

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