NEW YORK, NY – September 21, 2016 – Ariel Property Advisors has facilitated the sale of 151 Tompkins Avenue, a 5,600 square foot mixed-use property located on the southeast corner of Tompkins and Willoughby Avenues in Brooklyn’s Bedford-Stuyvesant neighborhood. The property sold for $2.5 million, which translates to $446 per square foot.

The four (4) story, seven (7)-unit, prewar building consists of five (5) free-market residential units, one (1) office unit and one (1) retail unit. The property was sold vacant and the apartments require gut renovation.

Exclusive agents Jonathan Berman, Daniel Tropp, and Mark Spinelli represented the seller, Tompkins Equities A, LLC and procured the buyer, Winchester Equities.

“The buyer was bullish on this up-and-coming neighborhood because he was willing to pay $446 per square foot on a vacant building which will require significant renovations,” said Jonathan Berman, Vice President at Ariel Property Advisors

Nearby transportation includes access to the G Subway Line at the Myrtle – Willoughby station and the J, M, and Z lines at the Myrtle Avenue station.