NEW YORK CITY—A 17-building multifamily portfolio in theMorrisania section of the Bronx has been sold for $85.5million.
The deal, announced by Ariel Property Advisors,involves a 676-unit package called the MorrisaniaMultifamily Portfolio that also includes one vacant lot.The property was sold by a developer and multifamily operator andwas purchased by an affordable housing operator. No otherinformation on the parties in the transaction was released.
Exclusive agents Shimon Shkury, VictorSozio, Michael A. Tortorici, ScotHirschfield and Jason M. Gold representedthe seller in the deal. Ariel states that the new ownership plansto maintain the affordability of the portfolio, which consists ofProject Based Section 8 buildings operating under HAPagreements.
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John Jordan
John Jordan is a veteran journalist with 36 years of print and digital media experience.
