Gold, Hirschfield, Agbaba and Sozio of Ariel Property Advisors arrange $3.85 million sale

Jason Gold, Ariel Property Advisors

Scot Hirschfield, Ariel Property Advisors

Marko Agbaba, Ariel Property Advisors

Victor Sozio, Ariel Property Advisors

Bronx, NY Ariel Property Advisors has completed the sale of 773-783 East 169^th St., a 20-unit mixed-use assemblage located on the north side of East 169^th St. between Union Ave. and Boston Rd. in the Morrisania section. It sold for $3.85 million, which represents $268 per s/f.

Of the property’s 20 units, there are four retail and 16 residential units. The residential consist of one three-bedroom, nine one-bedroom, six two-bedroom, and apartments. The commercial portion of the property contains 7,700 s/f of rentable retail space.  Exclusive agents Jason Gold, Scot Hirschfield, Marko Agbaba and Victor Sozio represented the seller, a private investor, and procured the buyer.  

“New ownership will immediately benefit from positive cash flow and the significant presence in the retail, which has 125’ of frontage,” said Gold, vice president at Ariel.

Advisors. “With 25,251 s/f of air rights, there is potential for future development as The Bronx continues to evolve and improve.”

The property is in close proximity to the 2/5 Subway lines on Freeman St. and Southern Blvd.

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.