NEW YORK, NY – September 9, 2025 – Ariel Property Advisors (Ariel) has arranged the sale of the Tegford Portfolio, a 249-unit mixed-use package comprising nine walk-up buildings encompassing nearly a city block in the Longwood section of the South Bronx. The rent stabilized portfolio, which was under the same ownership for close to 50 years, traded for $19,625,000, or $120/SF.

An Ariel team consisting of Victor Sozio, Founding Partner; Shimon Shkury, President and Founder; Jason Gold, Senior Director; Remi Mandell, Director; Jake Brody, Associate Director; and Gabriel Elyaszadeh, Associate Director represented the seller.

The 163,428-square-foot portfolio features 237 residential units and 12 commercial units in nine, five-story buildings located along Wales Avenue, East 152nd Street, East 151st Street and Tinton Avenue.

“The sale of the Tegford Portfolio is the most recent example of Ariel’s robust activity in the Bronx,” Sozio said. “Our current pipeline consists of a diverse range of asset classes, from development sites and multifamily buildings to commercial and industrial properties.”

Gold added, “This year alone, Ariel’s Bronx team has already closed nearly $100 million in transactions, with another $45 million currently under contract, and we are actively marketing listings valued at $230 million.”

Director Daniel Mahfar along with Senior Director Jason Gold and Associate Director Gabriel Elyaszadeh, who worked on the Tegford Portfolio sale, make up Ariel's Bronx team.

The significant recovery in the Bronx investment sales market in the first half of the year was reflected in Ariel Property Advisors’ Bronx 2025 Mid-Year Commercial Real Estate Trends report , which showed dollar volume rising to $1.07 billion and transactions to 126 in 1H 2025, year-over-year increases of 106% and 18%, respectively.

NOTE: For more information about the Bronx investment sales market, please refer to Ariel’s latest research reports covering the New York City investment sales market: Q2 2025 Multifamily Quarter in Review New York City and Bronx 2025 Mid-Year Commercial Real Estate Trends report.