NEW YORK, NY – March 14, 2018 – Ariel Property Advisors facilitated the sale of Adam Clayton Powell Cluster, a mixed-use portfolio located in Northern Manhattan’s prime neighborhood of Central Harlem. The package of four mixed-use buildings and a vacant lot sold for $16.4 million.
The four walk-up buildings, located between 133rd Street and 134th Street, contain 41 residential and 6 retail units. The buildings span 39,445 square feet.
Exclusive agents Victor Sozio, Shimon Shkury, Michael A. Tortorici and Orry Michael represented the owner and secured the buyer.
The vacant lot, situated at 2265 Adam Clayton Powell Jr. Boulevard, is zoned R7-2/C1-4, allowing for 7,500 buildable square feet (as-of-right) of retail and residential development. A community facility bonus (6.5 FAR) is also available, permitting approximately 12,175 buildable square feet.
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; and Orry Michael, ext. 4002, omichael@arielpa.com
