Ariel Property Advisors completes three Bronx sales totaling $4.77 million

September 22, 2015 - New York City
868 Faile Street, Hunts Point - Bronx, NY 868 Faile Street, Hunts Point - Bronx, NY
Scot Hirschfield, Ariel Property Advisors Scot Hirschfield, Ariel Property Advisors
Jason Gold, 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 168th 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.