Ariel Property Advisors announced the $25.5 million sale of a prime development site located at 261 Walton Avenue in the Mott Haven neighborhood of the South Bronx to Zeta Charter Schools. Ariel’s Investment Sales team, led by Jason M. Gold, senior director; Victor Sozio, founding partner and Gabriel Elyaszadeh, associate director, represented the seller in the transaction.
The property consists of a 25,182-square-foot lot with approximately 181,000 buildable square feet. The site traded for $140 per buildable square foot. Located in the heart of Mott Haven’s rapidly evolving development market, the block-through site offers substantial frontage along both Walton Avenue and Gerard Avenue and sits within one of the Bronx’s most active growth areas.
“The South Bronx continues to see strong demand from both residential developers and institutional users,” said Gold. “This transaction underscores not only the ongoing strength of the Mott Haven development market, but also the growing demand for high-quality educational facilities in the neighborhood.”
Zeta Charter Schools’ acquisition reflects increasing interest from charter school operators seeking long-term real estate solutions in areas experiencing sustained population growth and residential development activity. Mott Haven has been at the center of significant new construction over the past several years, with thousands of residential units delivered or in development.
