Ariel Property Advisors closed the sale of 425 Devoe Ave., a vacant multi-story industrial property in the West Farms neighborhood of The Bronx, for $10,750,000. The property spans 60,000 square feet above grade, which translates to $180 per square foot, with an additional 30,000 square feet below grade.
An Ariel investment sales team led by senior director Jason M. Gold, along with partner Sean R. Kelly, Esq. and director Daniel Mahfa represented the seller, Abingdon Square Partners. The buyer was MADDD Equities, LLC.
“The sale of 425 Devoe Ave. demonstrates the strong demand for large, commercial sites offering convenient regional access,” said Gold. Situated on a 40,097-square-foot lot, the property features four levels of usable industrial and warehouse space. It is located near the 2 and 5 subway lines and offers convenient access to the Cross Bronx Expressway, Sheridan Boulevard and the broader New York region.
