Ariel Property Advisors recently announced the successful sale of a mixed-use property located at 950 Westchester Avenue in Longwood, Bronx. The transaction, which totaled $19.1 million, involved an affordable multifamily and commercial building with 111 residential units and various office and retail spaces spanning over 160,000 square feet. This property also benefits from tax abatements through the ICIP and 421a programs.
The seller was represented by a team of experts from Ariel led by Victor Sozio, Jason Gold, Howard Raber, Shimon Shkury,and Daniel Mahfar. The identities of both buyer and seller have not been disclosed.
This recent change in ownership highlights the strong demand for mixed-use properties in this area as well as the expertise of Ariel Property Advisors in facilitating such transactions.
