New purchase expands Pel-Bay Realty

New purchase expands Pel-Bay Realty
Community News Group / Steven Goodstein

One of the oldest real estate agencies in the Bronx now has a broader reach following its recent sale.

Last summer Pel-Bay Realty purchased long-time real estate and insurance agency Mary Santini Real Estate – giving the agency an opportunity to widen its Bronx reach.

Pel-Bay Realty has been in business and has specialized in residential sales and rentals as well as commercial property sales and property management in the Bronx for over 40 year.

Mary Santini Real Estate, which was renamed Pel-Park Realty following last summer’s purchase, showcases a 1,000 square foot sales office.

The building, which has been remodeled and renovated with a new store front, as well as new flooring and furniture, has two floors – the first will be used for company-related business, while the professional office space on the second floor will be rented to another agency or to attorneys.

For the past four decades, Pel-Bay Realty has provided residential sales and rentals primarily in Throggs Neck, Pelham Bay and Riverdale.

With the expansion it will service Morris Park, Pelham Gardens and Pelham Parkway as well.

Mary Santini Real Estate was in business for over 70 years.

After its original owner, Mary Santini, passed away in the 1990s, her son Robert took the agency over.

He eventually sold the business to family-friend Bill Rizopoulos, Pel-Bay Realty’s owner for the past 15 years.

“This is a viable location for expanding our business,” said Rizopoulous.

“Expansion of a business is usually positive but it has to make sense – and this makes sense because the location is a prime area and it’s close to our other location (Pel-Bay Realty).”

Bill, who lives close to the new operation, added he always aspired to owning the iconic realtor.

“I always had my eye on this location,” said Rizopoulos, referring to the new 2436 Eastchester Road location.

“I was contemplating options at a few other potential locations, but I knew that I wanted to purchase this one rather that the others because of the history of this business as well as the client base that came out of that business.”

“I am both happy and proud when it comes to this purhcase, and I know that our business will continue to well servicing the community,” he concluded.

Reach Reporter Steven Goodstein at (718) 260-4599. E-mail him at