Ariel Property Advisors has announced that the firm is exclusively listing the sale of 536 Kappock Street, a 12,000-square-foot, six-story, high-end elevator residential building in the Bronx’s highly desirable Riverdale area. With an asking price of $3.5 million, the property is being brokered by an Ariel Investment Sales team including Victor Sozio, Executive Vice President and Co-Founder; Jeff Henley, Associate Director; and Brendan Dal Col, Associate Director.

Built in 2008, the well-maintained, turnkey property is home to 10 luxury apartments comprising eight two-bedroom units, one three-bedroom unit and a one-bedroom unit, all with high-end luxury finishes. Each unit has its own balcony and two of the units have private outdoor patios. With a low price per square foot compared to similar buildings in the area, this unique property also presents a future condo conversion opportunity and strong investment potential overall.

“With its high-end amenities and accommodations, easy access to Manhattan and stable cash flow, 536 Kappock is well-positioned for multifamily investors in a location where properties do not often trade,” said Sozio. “This is an opportunity to buy a relatively new building in a strong location at well below replacement cost.”

Widely considered one of the most desirable neighborhoods in The Bronx due to its myriad of parks, historic architecture and greenspace, Riverdale has been a magnet for families seeking a respite from more congested areas of the city. Close to the Hudson River and East River, 536 Kappock Street is near a range of transportation and attractions, including the Wave Hill Public Garden, Mosholu Golf Course, Van Courtland Park, the 1 train subway station and Spuyten Duyvil Metro North station.

About Ariel Property Advisors

Ariel Property Advisors is a commercial real estate services and advisory company located in New York City. The company covers all major commercial asset types throughout the New York metropolitan area, while maintaining a very sharp focus on multifamily, mixed-use and development properties. Ariel’s Research Division produces a variety of market reports that are referenced throughout the industry. arielpa.nyc.