Ariel Property Advisors Sells Morris Heights Multifamily Portfolio For $14.7M

An eight-property multifamily portfolio in Morris Heights, Bronx has been sold for a total of $14.7 million. The portfolio includes six buildings located at 1812 Harrison Avenue, 2094 Creston Avenue, 2078 Morris Avenue, 2195 Walton Avenue, 2201 Walton Avenue, and 1 East Tremont Avenue. These properties feature a combined total of 203 units, with an average price per unit of $72,414. The total square footage of the portfolio is 188,721, with an average price per square foot of $78.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $14,700,000
• Units: 203
• Price per Unit: $72,414
• Square Footage: 188,721
• Price per Square Foot: $78

The seller's representatives in this transaction were Victor Sozio, Daniel Mahfar, Shimon Shkury, Jason M. Gold, and Jake Brody from Ariel Property Advisors. These individuals played a key role in facilitating the sale of the eight-property multifamily portfolio in Morris Heights, Bronx.

For investors interested in the Bronx market, Ariel Property Advisors also offers a range of other opportunities. These include several thousand multifamily units available, with options such as fully rent-stabilized, affordable housing, new construction assets, cash over mortgage opportunities, vacant buildings, and 100% free market apartments. Additionally, there are community facility assets available, including vacant buildings suitable for religious, school, or daycare use, with sizes of 12,000 square feet and 15,000 square feet. Furthermore, there are over 10 development sites available, with buildable square footage ranging from 40,000 to over 200,000.