NEW YORK CITY—A 17-building multifamily portfolio in the Morrisania section of the Bronx has been sold for $85.5 million.

The deal, announced by Ariel Property Advisors, involves a 676-unit package called the Morrisania Multifamily Portfolio that also includes one vacant lot. The property was sold by a developer and multifamily operator and was purchased by an affordable housing operator. No other information on the parties in the transaction was released.

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