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CLIENT ACCESS
NEW YORK, NY – May 7, 2015 – Ariel Property Advisors has announced it has been retained on an exclusive basis to sell a portfolio of three multifamily buildings at 347-351 East 58th Street in the exclusive Sutton Place section of Manhattan.
Exclusive agents Shimon Shkury, Howard Raber, Victor Sozio, Michael A. Tortorici, and Jesse Deutch are requesting proposals on behalf of Stonehenge Partners, who own and manage the properties.
The three contiguous walk-up buildings provide 60-feet of frontage and 18,725 square feet with additional air rights. Together the buildings offer 30 residential units of which three are studios, 24 are one-bedrooms, and three are two-bedroom duplex apartments.
“Steps away from several skyline changing developments, 347-51 East 58th Street is an outstanding opportunity for investors seeking strong cash flow and location driven upside,” said Shimon Shkury, president of Ariel Property Advisors.
The buildings are located in one of the most prestigious neighborhoods of Manhattan and are close to some of the finest private educational institutions in New York City. Additionally, the properties are surrounded by local amenities, shops, and restaurants on First and Second Avenues. With the 4, 5, 6, N, Q, and R trains available two blocks away on Lexington Avenue, and the Ed Koch Queensboro Bridge located on 59th Street, this location also offers substantial commuting options.
More information is available from the exclusive agents at 212-544-9500: Howard Raber, ext. 23, hraber@arielpa.com; Shimon Shkury, ext. 11, sshkury@arielpa.com; and Jesse Deutch, ext. 18, jdeutch@arielpa.com.
Ariel Property Advisors is a commercial real estate services and advisory company located in New York City. The company covers all major commercial asset types throughout the NY metropolitan area, while maintaining a very sharp focus on multifamily, mixed-use and development properties. Ariel’s Research Division produces a variety of market reports that are referenced throughout the industry.
For press inquiries, please contact our Public Relations Department at 212.544.9500 ext. 19 or via mploc@arielpa.com
The information contained herein has either been given to us by the owner of the property or obtained from sources that we deem reliable. We have no reason to doubt its accuracy but we do not guarantee the accuracy of any information provided herein. As an example, all zoning information, buildable footage estimates and indicated uses must be independently verified. Vacancy factors used herein are an arbitrary percentage used only as an example, and does not necessarily relate to actual vacancy, if any. The value of this prospective investment is dependent upon these estimates and assumptions made above, as well as the investment income, the tax bracket, and other factors which your tax advisor and/or legal counsel should evaluate. The prospective buyer should carefully verify each item of income, and all other information contained herein.
