Ariel Property Advisors (Ariel) has been named the exclusive agent to sell the Tegford Portfolio, a 249-unit mixed-use package comprised of nine walk-up buildings encompassing nearly a city block in the Longwood section of the Bronx. The asking price is $25 million.
An Ariel team consisting of Victor Sozio, Founding Partner; Shimon Shkury, President and Founder; Jason Gold, Senior Director; Remi Mandell, Director; Jake Brody, Associate Director; and Gabriel Elyaszadeh, Associate Director; are managing the assignment.
“This is a well-maintained portfolio which benefits from high occupancy, efficient building systems and sustainable retail tenancy,” Sozio said. “The fact that this has been under the same ownership for close to 50 years speaks to the portfolio’s quality.”
The 163,428-square-foot portfolio features 237 residential units and 12 commercial units in the nine, five-story buildings located along Wales Avenue, East 152nd Street, East 151st Street and Tinton Avenue.
Longwood is a South Bronx neighborhood known for its residential areas and diverse community. The area has experienced growth in housing and infrastructure over the last several years and is well-connected by public transportation.
NOTE: For more information about the Bronx investment sales market, please refer to Ariel’s latest research reports covering the New York City investment sales market: Ariel Property Advisors’ 2024 New York City Multifamily Year In Review and Bronx 2024 Year-End Commercial Real Estate Trends report.
About Ariel Property Advisors
Ariel Property Advisors is a New York City-based commercial real estate services and advisory company offering expertise in three core areas: Investment Sales, Capital Services and Research & Advisory. Our Investment Sales Group specializes in all major commercial asset types throughout the New York metropolitan area, the Capital Services Group provides clients nationwide with custom-tailored financing solutions and the Research & Advisory team delivers timely market reports, empowering both our professionals and clients. Additionally, our recent strategic partnership with GREA (Global Real Estate Advisors), a nationwide network of independent real estate investment services companies, further expands our reach and capabilities. To learn more, please visit us at arielpa.nyc.
