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NEW YORK, NY – October 28, 2011 – Ariel Property Advisors has been retained to sell two buildings on one lot in one of Brooklyn’s hottest neighborhoods—Williamsburg. The asking price for 168 S 3rd Street and 744 Driggs Avenue is $1.95 million.
One building is a renovated four-family, and the other is a seven-family with retail space that is being used as a trendy Italian restaurant. Each apartment has two bedrooms and all are occupied.
“We’ve already had considerable interest in the these properties because of their desirable location in Williamsburg and attractive price,” said Jonathan Berman, vice president for Ariel Property Advisors.
Ariel Property Advisors has a history of marketing similar buildings in another hot neighborhood, the Upper West Side, including 6-8 West 107th Street, 280 Manhattan Avenue, and 223 West 113th Street, which is in contract.
For more information, please contact Mr. Berman at 718-475-9800, ext. 20, jberman@arielpa.com, Victor Sozio at 212-544-9500, ext.12, vsozio@arielpa.com, or Michael Tortorici, 212-544-9500, ext. 13, mtortorici@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.
