Ariel Property Advisors Brokers $107.5M Sale Of Multifamily & Development Site In Morrisania, High Bridge & Belmont

A multifamily property and development site located at 280 East 161st St., 1105 Jerome Ave., 101-103 West 165th St., 1140 Woodycrest Ave., and 2363 Southern Blvd. in Morrisania, High Bridge, and Belmont has been sold for a total of $107,500,000. The property consists of 477 units, with an average price per unit of $225,367. The total square footage of the property is 551,320, with a price per square foot of $195.

Summary of transaction details

• Property Type: Multifamily & Development Site
• Transaction Amount: $107,500,000
• Units: 477
• Price per Unit: $225,367
• Square Footage: 551,320
• Price per Square Foot: $195
• Market: Morrisania, High Bridge & Belmont

The sale was facilitated by Ariel Property Advisors, with brokers Victor Sozio, Shimon Shkury, Daniel Mahfar, Jason M. Gold, and Evan Hirsch representing the parties involved in the transaction.