Mixed-Use Portfolio Sells for $20M in South Bronx’s Longwood Section
Ariel Property Advisors arranged the sale of the Tegford Portfolio, a 249-unit mixed-use package comprising nine walk-up buildings encompassing nearly a city block in the Longwood section of the South Bronx. The rent-stabilized portfolio, which was under the same ownership for nearly 50 years, traded for $19,625,000, or $120 per square foot.
An Ariel team of founding partner Victor Sozio, president and founder Shimon Shkury, senior director Jason Gold, director Remi Mandell and associate directors Jake Brody and Gabriel Elyaszadeh represented the seller.
The 163,428-square-foot portfolio features 237 residential units and 12 commercial units in nine five-story buildings located along Wales Avenue, East 152nd Street, East 151st Street and Tinton Avenue.
“The sale of the Tegford Portfolio is the most recent example of Ariel’s robust activity in the Bronx,” said Sozio. “Our current pipeline consists of a diverse range of asset classes, from development sites and multifamily buildings to commercial and industrial properties.”
Hear from top leaders at Cushman & Wakefield, Thorofare Capital, Charney, GFP and Greystone, and more at Connect New York Apartments Investment & Finance on October 23.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout