Ariel Property Advisors Brokers $107.5M Sale of Affordable Housing Portfolio in The Bronx

by Taylor Williams

NEW YORK CITY — Ariel Property Advisors has brokered the $107.5 million sale of a portfolio of four affordable housing properties totaling 477 units in The Bronx. The sale, which also included a 525,000-square-foot development site, involved properties in the Morrisania, High Bridge and Belmont neighborhoods. Victor Sozio, Shimon Shkury, Jason Gold, Daniel Mahfar and Evan Hirsch of Ariel Property Advisors represented the undisclosed seller in the transaction. The buyer was a joint venture between Systima Capital Management, Gilbane Development Co., ELH Management LLC and TerreAlto.

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