Victor Sozio
Founding Partner
Ariel Property Advisors
Daniel Mahfar
Director - Investment Sales
Ariel Property Advisors
Shimon Shkury
President and Founder
Ariel Property Advisors
Jason M. Gold
Senior Director - Investment Sales
Ariel Property Advisors
Jake Brody
Associate - Investment Sales
Ariel Property Advisors
NEW YORK, NY – January 18, 2024 – Ariel Property Advisors (Ariel) announced it has arranged the $14.7 million sale of a portfolio of six multifamily buildings with 203 units located in the Morris Heights neighborhood of the Bronx.
Ariel Property Advisors sold this six-building portfolio for $14.7 million.
An Ariel team led by Founding Partner Victor Sozio, in addition to Director Daniel Mahfar, President and Founder Shimon Shkury, Senior Director Jason Gold, and Associate Jake Brody, arranged the sale on behalf of the long-term owner.
The portfolio is comprised of five walk-up buildings and one elevator building, spanning a total of 188,721 gross square feet and encompassing 200 apartment units in total, as well as three commercial units. Of the residential units, 19 are studio apartments, 93 are one-bedroom apartments, 50 are two-bedroom apartments, and 38 are three-bedroom apartments. The buildings also enjoy exceptional J-51 tax benefits, which are set to expire in 2034-2035.
The package includes:
• 1812 Harrison Avenue • 2094 Creston Avenue • 2078 Morris Avenue • 2195 Walton Avenue • 2201 Walton Avenue • 1 East Tremont Avenue
Transportation is in abundance surrounding all six buildings as the properties are near the 4/B/D subway lines on Jerome Avenue and the Grand Concourse. There are also numerous national and local commercial retail options accessible for residents nearby.
