NEW YORK, NY – August 8, 2016 – Ariel Property Advisors is exclusively retained to sell 517 West 180th Street and 570 West 182nd Street, a package of two (2) walk-up buildings in Washington Heights. The asking price for the 51-unit, 37,305 square foot property is $16.75 million.

517 West 180th Street is located on the north side of West 180th Street between Audubon Avenue and Amsterdam Avenue. 570 West 182nd Street is located on the south side of West 182nd Street between Saint Nicholas Avenue and Audubon Avenue.

The multifamily buildings contain fifty-one (51) residential units, comprised of ten (10) one-bedroom units, twenty-seven (27) two-bedroom units thirteen (13) three-bedroom units, and one (1) five-bedroom unit.

In the fifty-one units, there are thirty-nine (39) rent stabilized, and twelve (12) free market units.

Exclusive agents Josh Berkowitz, Victor Sozio, Michael A. Tortorici, Shimon Shkury, are representing the seller, a private investor. “517 West 180th Street and 570 West 182nd Street present investors the unique opportunity to own two prime assets, possessing substantial residential upside in a rapidly appreciating neighborhood of Washington Heights,” said Josh Berkowitz, Associate Vice President at Ariel Property Advisors. “Potential buyers should know that current ownership put extensive renovations into these properties with condo-like finishes,” added Mr. Berkowitz.

Notable nearby projects include the recently announced Youngwoo & Associate’s 212-key hotel and office building. The properties are also located near the 1 train on St. Nicholas and the A train on Fort Washington Avenue.

Neighborhood attractions and institutions include: Yeshiva University, Columbia Presbyterian Hospital and Highbridge Park just across the street on Amsterdam Avenue.