MADDD Equities, LLC has acquired a vacant multi-story industrial building at 425 Devoe Ave. in the West Farms neighborhood of The Bronx. The asset traded for $10,750,000, according to Ariel Property Advisors, which arranged the transaction. The property is described as a large commercial site offering regional connectivity within the broader New York area.
The industrial building totals 60,000 square feet of space above grade, which equates to a price of $180 per square foot on that portion of the asset. The property also includes an additional 30,000 square feet below grade, providing further industrial and warehouse utility, though this space is not included in the cited pricing metric.
Ariel Property Advisors reported that the building sits on a 40,097-square-foot lot. The structure contains four levels of usable industrial and warehouse space, positioning it for a range of commercial and logistics uses once repositioned or leased. The asset is currently vacant, offering the buyer flexibility for future occupancy or redevelopment strategies consistent with industrial demand in the area.
The seller in the transaction was Abingdon Square Partners. Representation for the seller was provided by an Ariel Property Advisors investment sales team led by senior director Jason M. Gold, together with partner Sean R. Kelly, Esq. and director Daniel Mahfa. Ariel Property Advisors acted in an investment sales capacity on the assignment, marketing the asset and closing the sale to MADDD Equities.
Commenting on the transaction, Gold noted that the sale of 425 Devoe Ave. reflects strong demand for large commercial sites that benefit from convenient regional access. The property is located near the 2 and 5 subway lines, and offers proximity to the Cross Bronx Expressway and Sheridan Boulevard. These transportation links connect the site to the broader New York region and reinforce its positioning as a distribution- and access-oriented industrial opportunity.
The combination of lot size, multiple levels of industrial space, and transit and highway access underscores the strategic attributes that made the property attractive to MADDD Equities. With the building delivered vacant, the new owner has a blank slate to align the asset with evolving industrial and logistics requirements in West Farms and the surrounding Bronx submarkets.
