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Ariel Property Advisors Arranges $11.67 Million Sale of 1931 Lafayette Avenue Development Site in the Bronx

Victor Sozio
Founding Partner
Ariel Property Advisors

Shimon Shkury
President and Founder
Ariel Property Advisors

Jason M. Gold
Senior Director - Investment Sales
Ariel Property Advisors

Daniel Mahfar
Director - Investment Sales
Ariel Property Advisors

NEW YORK, NY – June 6, 2024 – Ariel Property Advisors (Ariel) announced the $11,671,489 sale of a block-through development site located at 1931 Lafayette Avenue, situated along White Plains Road in the Bronx.

An Ariel team led by Founding Partner Victor Sozio, President and Founder Shimon Shkury, Senior Director Jason Gold, and Director Daniel Mahfar represented the sellers in the transaction.

The 1931 Lafayette Avenue site offers approximately 300,000 square feet of buildable space. The R8/C2-4 zoning and restrictive covenants allow for a large mixed-use development including an affordable housing project and over 18,000 square feet of retail. The prime location features over 200 feet of frontage on White Plains Road, a major Bronx thoroughfare.

The site is within walking distance of commercial storefronts including Bruckner Common and The Shops at Bruckner, and offers proximity to numerous subway lines with easy Manhattan access at the nearby Parkchester Station.

NOTE: For more information about the Bronx investment sales market, please refer to Ariel’s research reports: The Bronx 2023 Commercial Real Estate Trends report and Q1 2024 Multifamily Quarter In Review New York City.

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Ariel Property Advisors

Ariel Property Advisors is a New York City-based commercial real estate services and advisory company offering expertise in three core areas: Investment Sales, Capital Services and Research & Advisory. Our Investment Sales Group specializes in all major commercial asset types throughout the New York metropolitan area, the Capital Services Group provides clients nationwide with custom-tailored financing solutions and the Research & Advisory team delivers timely market reports, empowering both our professionals and clients. Additionally, our recent strategic partnership with GREA (Global Real Estate Advisors), a nationwide network of independent real estate investment services companies, further expands our reach and capabilities. To learn more, please visit us at

Media Contact

Gail Mitchell Donovan, Senior Director - 
                          Communications, Ariel Property Advisors

Gail Mitchell Donovan

Senior Director - Communications

212.544.9500 ext. 19


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