NEW YORK, NY – April 11, 2019 – Ariel Property Advisors has facilitated the sale of The Glendale Multifamily Portfolio, three adjoining multifamily buildings in the picturesque, family-centric Queens neighborhood of Glendale. The 72-unit property trio sold for $15.96 million, which translated into $221,597 per unit and $255 per square foot.

Spanning 62,640 square feet, the four-story walk-up buildings are located on 65th Street between Central Avenue and Myrtle Avenue.

Exclusive Ariel Property Advisors agents Victor Sozio, Shimon Shkury, Michael A. Tortorici, and Matthew Lev represented the seller, 71-15 65th Street LLC, and procured the buyer, a group led by Rockabill Development.

Glendale, a quiet and safe destination that boasts eight primary and secondary schools, is poised for vigorous development in the years to come. Locals in the residential-heavy region benefit from an array of retail outlets, such as The Shops at Atlas Park, a major shopping center that houses well-known stores such as Starbucks, Forever 21, Foot Locker, and a Regal Cinemas movie theater.

The Glendale Multifamily Portfolio, which is located on the border of Ridgewood and Glendale, is within walking distance to the Fresh Pond Road M-train, which provides local service to Queens, Manhattan, and Brooklyn.