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.
Mixed-Use Property Sells for $10M in Bronx’s Mount Hope Neighborhood
Ariel Property Advisors arranged the sale of a corner mixed-use building totaling 24,316 square feet at 101-109 E. Burnside Ave. and 2054-2056 Morris Ave. in the Bronx’s Mount Hope neighborhood for $9.85 million.
The property was sold by an Ariel team including investment sales director Jason M. Gold, founding partner Victor Sozio and director Daniel Mahfar. The seller was the Vanbarton Group.
The three-story building includes five free market residential units, seven commercial units including anchor tenant T-Mobile and a regional pharmacy, and 10,600 square feet of vacant office/community service space. It also offers 53,000 square feet of air rights and ICIP tax exemptions through 2037.
“This property was highly desirable because it presented an extremely rare opportunity to acquire a corner mixed-use building with free market apartments, vacant space offering tremendous upside and 100 feet of retail frontage on an extremely busy commercial corridor,” said Gold.
- ◦Sale/Acquisition

