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.
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).