FOR IMMEDIATE RELEASE

NEW YORK, NY – January 10, 2011 – New York City real estate broker Shimon Shkury has announced the formation of a new commercial real estate firm Ariel Property Advisors.

Mr. Shkury was previously a partner at Massey Knakal Realty Services where he headed a team that specialized in the sale of multifamily properties, primarily in Northern Manhattan and The Bronx, to both domestic and international investors. Together, Mr. Shkury and his team have closed over $850 million in transactions and have provided Asset Evaluations services to clients on more than 2,000 properties totaling over $10 billion.

“We’re starting Ariel Property Advisors at this time because we’re very bullish on the local economy and see a great opportunity to make a real impact on the New York investment sales market,” Mr. Shkury said. “We see lending coming back not only for the multifamily market but also for other asset classes including office buildings. We see international capital and institutions investing in large and mid-sized buildings. And we see lenders aggressively cleaning up their balance sheets.”

Mr. Shkury also emphasized that the company expects to recruit top industry talent and will offer equity options to top producers.

In 2010, Mr. Shkury and his team sold more than 35 multifamily and investment properties throughout Manhattan, The Bronx, Brooklyn and Queens, and will continue to focus on the investment sales market at Ariel Property Advisors.

Mr. Shkury and the other founding members — Victor Sozio, Michael A. Tortorici, Christopher L. Lefferts, and Ivan Petrovic — have been selling investment properties together for nearly a decade.

Some of the team’s notable transactions include The East Harlem HUD Portfolio, a 230 unit portfolio that sold for $26.9 million and 1428 Fifth Avenue, a package that consisted of a 120 unit residential building and 180,000 square foot development site that sold for $21.95 million. He was also responsible the sale of an $80 million commercial property on the Upper East Side and for the sale of a $120 million portfolio for a private New York family.

At Ariel Property Advisors, a team of 12 professionals will be available to work on each listing. The sales team will be supported by a proprietary web-based Customer Relations Management system developed by the firm to streamline its marketing efforts and expand its capacity. Ariel Property Advisors also will offer Asset Evaluation services for both private clients and institutions.

For investors seeking to track market trends, the sales team will continue to produce a number of investment research and sales reports including the Multifamily Month In Review and Weekly Market Watch, which provides investors with a weekly summary and analysis of major real estate and economic news.