NEW YORK – Ariel Property Advisors has arranged the sale of three properties for $13 million in Brooklyn, Upper Manhattan and the Bronx.
Two adjacent, free market buildings delivered vacant at 621 & 623 Union Avenue in Williamsburg, Brooklyn, sold for $5.5 million, or $891/SF. The two properties totaled 6,173 square feet and are located directly across from McCarren Park. An Ariel team that included Sean R. Kelly, Partner, and Benjamin Vago, Director, Investment Sales, arranged the sale.
A 14,700-square-foot multifamily property at 532 West 152nd Street in the heart of Hamilton Heights in Upper Manhattan sold for $5 million, which translates to $340/SF and a price per unit of $238,095. The five-story building near City College of New York and Riverbank State Park consists of 21 total units, of which 18 are free market, and includes an attractive mix of 1-, 2- and 3-bedroom units. The property was sold by an Ariel team that included Victor Sozio, Founding Partner; James Nestor, Associate Director, Investment Sales; Michael A. Tortorici, Founding Partner; and Mark Anderson, Director, Investment Sales.
A mixed-use development site in an Opportunity Zone at 961 Westchester Avenue in the Bronx sold for $2.55 million. Located in a rapidly appreciating area of the South Bronx, the site provides up to approximately 33,660 buildable square feet with a community facility option and offers easy access to Manhattan and the outer boroughs. The property was sold by an Ariel team including Investment Sales Directors Jason Gold and Daniel Mahfar, and Founding Partner Victor Sozio.
About Ariel Property Advisors
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. arielpa.nyc
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