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New York & Tri-State  + Uptown/Bronx  + Opportunity Zones  | 

Land Site, Air Rights Trade to Opportunity Zone Fund in Bronx’s Little Italy

Brix Real Estate Advisors closed the $2.3-million sale of a vacant land site at 2330 Cambreleng Ave. in the Bronx’s Little Italy neighborhood that included air rights of an adjoining Opportunity Zone property. The firm’s Matthew Barbaccia represented both seller John Colangelo and buyer Aaron Yakobian. 

According to Barbaccia, the developer was attracted to the site due to its proximity to Arthur Avenue and Fordham University. In addition, by purchasing the air rights from the adjoining property, the buyer can build a larger property on the Cambreleng site. 

The buyer purchased the property through an Opportunity Zone fund. 

Brix is also marketing another development site in Little Italy located at 2414 Cambreleng Ave.

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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 16-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 7-10 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