REBusinessOnline

Ariel Property Advisors Arranges $5M Sale Development Site in South Bronx

NEW YORK CITY — Ariel Property Advisors has brokered the sale of a development site located at 417 Gerard Ave. in the Mott Havens section of the South Bronx. Treetop Development purchased the site from Galaxy General Contracting for $5 million, or $100 per buildable square foot. Zoned M1-4/R8A, the 9,816-square-foot site provides 49,680 buildable square feet as-of-right. Jason Gold, Scot Hirschfield, Marko Agbaba and Victor Sozio of Ariel Property Advisors represented the seller and procured the buyer in the deal.

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