PRESS RELEASE | Ariel Property Advisors Sells 21-Unit Multifamily Building In Hamilton Heights For $7.2 Million
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NEW YORK, NY – April 17, 2018 – Ariel Property Advisors has facilitated the sale of 523 West 135th Street, a multifamily building in the rapidly expanding neighborhood of Hamilton Heights. The five-story, 21-unit property sold for $7.2 million. This represents an impressive $525 per square foot and $343,000 per unit.
The walk-up building, which spans 13,770 square feet, is located on the north side of West 135th Street between Amsterdam and Broadway.
Exclusive agents Victor Sozio, Shimon Shkury, Michael A. Tortorici, Matthew L. Gillis, and Orry Michael represented the seller and procured the buyer.
The property is near several attractions and institutions, including the City College of New York. In addition, Columbia University’s Manhattanville Campus expansion – which has drastically uplifted the local economy with an influx of new renters, retailers and community facilities – is a short walk from the building. The property is also situated just two blocks from the 1 subway train, providing easy access to Manhattan and outer-borough locations.
More information is available from the exclusive agents at 212-544-9500: Victor Sozio, ext. 12, vsozio@arielpa.com; Shimon Shkury, ext. 11, sshkury@arielpa.com; Michael A. Tortorici, ext. 13, mtortorici@arielpa.com; Matthew L. Gillis, ext. 42, mgillis@arielpa.com; and Orry Michael, ext. 88, omichael@arielpa.com
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 NY 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.
For press inquiries, please contact our Public Relations Department at 212.544.9500 ext. 19 or via pr@arielpa.com
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The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein.
