Ariel Property Advisors successfully closed the sale of a prime development site located at 1931 Lafayette Avenue in the bustling Bronx neighborhood. The property, situated along White Plains Road, was sold for $11.7 million and offers an impressive 300,000 square feet of buildable space. Led by Victor Sozio, Shimon Shkury, Jason Gold and Daniel Mahfar,the Ariel team expertly represented the sellers in this transaction.
The site boasts R8/C2-4 zoning which allows for a large mixed-use development with affordable housing options as well as over 18,000 square feet of retail space. With its prominent location on White Plains Road – one of the main thoroughfares in the Bronx -the property features over 200 feet of frontage making it an attractive investment opportunity.
