NEW YORK, NY – November 21, 2018 – Ariel Property Advisors has facilitated the sale of 347 Manhattan Avenue, a multifamily building in West Harlem, and 77 Atlantic Avenue, a mixed-use property in Brooklyn Heights. The two assets sold for a collective $9.7 million.

347 Manhattan Avenue – The 5-story, 16-unit multifamily walk-up building is located on the west side of Manhattan Avenue between West 114th Street and West 115th Street. Spanning 11,565 square feet, the meticulously maintained property benefits from an additional 6,493 square feet of air rights for further development. The property sold for $5.2 million

Situated along a tree-lined residential block, the building is near several neighborhood attractions and institutions, with Morningside Park around the corner and Central Park a mere five blocks south. Columbia University’s undergraduate campus, law school and business school are all within walking distance.

Exclusive agents Victor Sozio, Orry Michael, and Marko Agbaba of Ariel Property Advisors represented the seller, 347 Equities Inc. Ann Morreel of Engel&Voelkers procured the buyer, Jerry Padovicz.

77 Atlantic Avenue – Spanning 7,895 square feet, the mixed-use walkup building is located on the corner of Atlantic Avenue and Hicks Street. The 4-story property, comprised of two commercial units and six apartments, sold for $4.5 million.

Positioned on the cusp of Brooklyn Heights and Cobble Hill, the building is just steps away from Brooklyn Bridge Park, a Trader Joe’s and popular retailers such as Urban Outfitters and Barneys New York. The property also sits directly across from Fortis Property Group’s redevelopment of the former LICH campus, which is set to bring 530,000 square feet of luxury residences to the neighborhood.

Exclusive agents Victor Sozio, Sean Kelly and Matthew Lev of Ariel Property Advisors represented the seller, Silvershore Properties. Philippe Salame of Douglas Elliman Real Estate procured the buyer, 77 ATL AVE LLC- Chi Quach.