Ariel Property Advisors completes three Bronx sales totaling $4.77 million

868 Faile Street, Hunts Point - Bronx, NY

Scot Hirschfield, Ariel Property Advisors

Jason Gold, Ariel Property Advisors

Bronx, NY Ariel Property Advisors has completed the sale of three multifamily properties totaling $4.77 million. The properties are located in the Morrisania, Parkchester and Hunts Point neighborhoods.

Exclusive agents Jason Gold, Scot Hirschfield, Michael Tortorici and Marko Agbaba represented the owners and procured the buyers.

• 868 Faile St.: The property is a four-story, 21-unit walk-up building located on the south-east corner of Seneca Ave. and Faile St. in Hunts Point. The building contains 21 units which consist of 15 two-bedroom apartments and six three-bedroom apartments. The property sold to a private investor for $2.75 million which translates to $150 per s/f and over $127,000 per unit.

• 614 East 168^th S.t: The asset, located in Morrisania, is a 27.5’ wide, four-story multifamily building spanning 7,912 s/f containing eight two-bedroom residential units. Mixed-use zoning affords new ownership the potential to convert the ground floor to retail use. The property sold for $1.265 million which translates to $160 per s/f and $158,000 per unit.

• 1744 Merrill St.: The property is a three-story, walk-up building located on the corner of Merrill St. and Rosedale Ave. in the Parkchester section of the Bronx. The building consists of three one-bedroom units, four two bedroom units and a two car garage. The sale price of $830,000 translates to $165 per s/f and $119,000 per unit.