NEW YORK, NY – March 27, 2015 – Ariel Property Advisors has announced the sale of a retail site at 3860 East Tremont Avenue in the Throgs Neck section of the Bronx to the Ashkenazy Acquisition Corporation, a private real estate investment firm that focuses on retail and office assets. The property sold for $5.1 million.

Exclusive agents Jason M. Gold, Victor Sozio, and Scot Hirschfield represented the seller, a private investor, and procured the buyer.

The commercial property, which is located on the northwest corner of East Tremont Avenue and the Cross Bronx Service Road North, features a 15,000-square-foot, one-story, vacant building that was previously occupied by a Mandee store; significant air rights totaling 23,618 square feet; 38,618 buildable square feet; 40 on-site parking spaces; and an advertising tower.

“This is a rare asset with drive-through accessibility from East Tremont Avenue to the Cross Bronx Expressway, and would be an ideal location for a national retailer seeking a presence on a major corridor in the Bronx,” said Jason M. Gold, vice president of Ariel Property Advisors. “The property’s zoning allows the buyer the flexibility of building another story on top of the existing structure.”

Daniel Levy, of Ashkenazy Acquisition Corporation, added that the site lends itself to either a single or multi-tenant commercial use. “The property has great exposure in a unique area of the Bronx and we’re very excited about the acquisition,” Mr. Levy said. “Ashkenazy’s leasing division will be handling leasing for the property.”