Arthur Leeds Sells Bronx Portfolio

by | Sep 10, 2025 | Affordable Housing | 0 comments

An overhead view of the city block containing the nine buildings in the Tegford Portfolio.
The Tegford Portfolio occupies nearly an entire city block in the South Bronx. Image courtesy of Ariel Property Advisors

Arthur Leeds Real Estate has sold the Tegford Portfolio, a nine-building, 163,428-square-foot portfolio in the Longwood neighborhood of the South Bronx. The 249-unit mixed-use package sold for $19.6 million.

The buyer of the rent-stabilized portfolio, which Arthur Leeds had owned for nearly 50 years, was not disclosed. Ariel Property Advisors arranged the sale.

The five-story assets make up nearly an entire city block and include 237 residential units and 12 commercial units. 25 percent of the residential units currently have preferential rents.

The assets in the portfolio were built in the early 20th century and were renovated in 2003, according to PropertyShark. Current retail tenants include a laundromat, barber shop and several bodegas.

READ ALSO: July 2025 National Affordable Housing Report

The block containing the buildings borders Wales Avenue, East 152nd Street, East 151st Street and Tinton Avenue. The site is within walking distance of St. Mary’s Park and within a mile of many retail and dining options located along Third Ave. The area is also 3 blocks from the Jackson Avenue subway station, providing access to Manhattan.

Bronx sales activity increasing

Investment sales have increased this year in the Bronx, according to a report from Ariel Property Advisors. The numbers have been primarily driven by sales of rent-stabilized properties. The area saw $565.22 million in total multifamily asset sales in the first half of the year, a 106 percent increase over the activity in the first half of 2024.

This class of assets accounted for 74 percent of total transactions in the Bronx in the first half of 2025, according to the report.

Owners of rent-stabilized properties are increasingly looking to sell – often at discounted prices – due to the limitations on raising rates. Arthur Leeds sold a 297-unit rent-stabilized asset in 2022 to PH Realty and Rockledge. That duo also purchased a 24-building rent-stabilized portfolio for $180 million in 2024.

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