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NEW YORK, NY – November 11, 2014 – Ariel Property Advisors has announced the sale of 4250-4280 White Plains Road, a block front commercial property, and 712 East 236th Street, an adjacent two-family house, in the Wakefield section of the Bronx. The package sold for $7.15 million.
Exclusive agents Scot Hirschfield, Victor Sozio, Jason Gold, and Shimon Shkury represented the seller, a real estate investment group, and procured the buyer, an owner-user.
“The buyer operates Le Point Value Thrift, a chain of clothing stores in Brooklyn and the Bronx,” said Scot Hirschfield, vice president of Ariel Property Advisors. “This was a classic owner-user scenario, where the buyer saw the large vacant space as an opportunity to open a new location for their business while at the same time acquiring an income-producing property with an eclectic mix of long-term tenants. This should be a great fit for the building.”
An added plus is the properties are located in a densely populated neighborhood with easy access to both public transportation and major highways.
More information is available at 212-544-9500: Scot Hirschfield, ext. 16, shirschfield@arielpa.com; Victor Sozio, ext. 12, vsozio@arielpa.com; Victor Sozio, ext. 12, vsozio@arielpa.com; Jason Gold, ext. 22, jgold@arielpa.com; or Shimon Shkury, ext. 11, sshkury@arielpa.com.
Ariel Property Advisors is a commercial real estate services and advisory company located in New York City. The company covers all major commercial asset types throughout the NY metropolitan area, while maintaining a very sharp focus on multifamily, mixed-use and development properties. Ariel’s Research Division produces a variety of market reports that are referenced throughout the industry.
For press inquiries, please contact our Public Relations Department at 212.544.9500 ext. 19 or via mploc@arielpa.com
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein.
