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.