Saidian and Mor of Capital Property Partners broker $4.9 million sale of 334-340 Walton Avenue in the Bronx

Michael Saidian,
Capital Property Partners

Bronx, NY Ivory Coast-based investor, Mory Cisse of Societe D’Exploitation Agricole C-I, LLC, has sold his South Bronx night club. Michael Saidian and Nir Mor of Capital Property Partners brokered the deal to Jay Schwimmer of Casablanca Property Owner LLC, a local private investor. The sale price was $4.9 million.

The property was formerly known as Casablanca Restaurant and Lounge until it closed earlier this year. Located at 334-340 Walton Ave. in the Mott Haven neighborhood, the property offers 9,335 s/f as well as an additional 60,000 s/f of air rights for future development. The two-story building is zoned for residential use, and is close to the Hostos Community College, Lincoln Medical Center, and the 138th St. Subway Station.

Mott Haven has seen a surge of new development taking place in the last couple of years. Including Somerset Partner’s and Chetrit Group’s waterfront project on Third Ave, Tree Top Development’s development project at 414 Gerard Ave, and L & M’s waterfront mixed use development which will also be home to the new Hip Hop Museum.

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