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NEW YORK, NY – April 3, 2014 – Ariel Property Advisors has announced the sale of four Northern Manhattan properties totaling more than $10.65 million.
The properties include:
• A six-story multifamily building at 540-542 West 157th Street between Broadway and Amsterdam Avenue in Washington Heights sold for $6.9 million. The 31,578-square-foot elevatored building features 43 rent stabilized apartments, of which 23 are one-bedroom units, 18 are two-bedroom units, and two are three bedroom units. Exclusive agents Victor Sozio, Shimon Shkury, Michael Tortorici, and Jesse Deutch represented the seller a real estate investment firm, and procured the buyer, a local investor.
• A 50-foot-wide vacant lot at 336 East 112th Street in East Harlem sold for $2.48 million. The property is zoned residential and offers approximately 20,184 buildable square feet. Exclusive agents Michael A. Tortorici, Victor Sozio, Daniel Tropp, and Marko Agbaba represented the seller, a real estate investment group, and procured the buyer, a real estate developer.
• A four-story, 3,330-square-foot vacant townhouse with more than 3,000 square feet of air rights at 18 East 129th Street in Central Harlem sold for $650,000. Exclusive agents Victor Sozio, Michael A. Tortorici, Jesse Deutch, and Marko Agbaba represented the seller, a private investor, and procured the buyer, a real estate investment group.
• An 18.25-wide development site offering 6,271 square feet for development at 57 East 130th Street in East Harlem sold for $625,000. Exclusive agents Michael A. Tortorici, Victor Sozio, Jesse Deutch, and Marko Agbaba represented the seller and procured the buyer, both private investors.
More information is available at 212-544-9500: Victor Sozio, ext. 12, vsozio@arielpa.com; Shimon Shkury, ext. 11,sshkury@arielpa.com; and Michael A. Tortorici, 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.
