NEW YORK, NY – August 27, 2026 – Ariel Property Advisors (Ariel) announced the sale of a three-building multifamily portfolio at 2460 Grand Avenue and 636-646 East 231st Street in the Bronx for $7.5 million.

An Ariel team led by Sam Schertz, Senior Director, along with Daniel Mahfar, Director, and Erik Moloney, Investment Sales Associate, arranged the transaction on behalf of the seller.

“This sale highlights the continued demand for multifamily properties offering scale and long-term upside in well-connected neighborhoods in The Bronx,” said Schertz. “With 143 apartments across three buildings, the portfolio presented a compelling opportunity to acquire a substantial rent-stabilized housing portfolio near major transit, retail corridors and institutional anchors.”

Bordering the neighborhoods of Wakefield and Fordham Manor, the portfolio comprises one elevator building and two walk-up buildings totaling 140,470 square feet, with 143 residential units ranging from studios to one-, two-, and three-bedroom apartments. The sale price translates to $52,447/unit and $53/SF.

The six-story building at 2460 Grand Avenue contains 49 units and approximately 53,900 square feet. The two five-story buildings at 636 and 646 East 231st Street contain 31 and 63 units, respectively, totaling approximately 86,570 square feet.

The Grand Avenue property is near the 4, B and D subway lines, while the East 231st Street properties are close to the 2 and 5 lines, providing access to both the east and west sides of Manhattan. The portfolio also benefits from its proximity to robust retail corridors including East Fordham Road, the Grand Concourse and White Plains Road, as well as major institutional anchors including Fordham University and Montefiore Medical Center’s Wakefield Campus.

NOTE: Ariel Property Advisors is currently marketing more than 2,000 multifamily units in the Bronx, including free market and rent-stabilized properties and value-add affordable portfolios. For more information about the Bronx market, please see Ariel Property Advisors’ Bronx 2026 Mid-Year Commercial Real Estate Trends report.