News:
Brokerage
Posted: November 26, 2024
Ariel Property Advisors arranges sale of three properties - $7.255 million
Brooklyn, NY Ariel Property Advisors (Ariel) brokered the sale of three properties located on the same block on Varet St. in Williamsburg. The properties, each zoned for industrial usage, were sold in separate transactions for a total of $7.255 million.
An Ariel team comprised of Sean Kelly, partner, and Benjamin Vago, director, represented three different sellers in the transactions. The properties were purchased by three separate owner-user buyers and include the following:
• 201 Varet St.: A 5,200 s/f paved surface parking lot sold for $2 million. The seller was the Tuzzolo family.
• 193-199 Varet St.: A 3,783 s/f, two-story industrial building with a 7,500 s/f vacant lot sold for $3.255 million. The seller was the Armel family.
• 187 Varet St.: A covered garage and land on two lots totaling 7,500 s/f sold as a development site for $2 million.
“Located at the nexus between Williamsburg and Bushwick, Varet St. offers easy access to the other boroughs making it a sought after location for all types of industrial users,” said Vago.
Tags:
Brokerage
MORE FROM Brokerage
Retreat at 490 Wheeler Rd. in Hauppauge
Hauppauge, NY Robert Raffa and Robert Monahan of Island Associates helped to negotiate a long-term lease for Retreat, a non-profit organization located at 490
Columns and Thought Leadership
The anticipated effect of Basel III and ISO 20022 implementation on commercial real estate - by Michael Zysman
July 1, 2025 is the deadline for US banks to begin to adopt Basel III banking standards and July 14, 2025 is the deadline for U.S. banks to adopt ISO 20022 messaging standards. Both will have a significant effect on the banking and commercial real estate (CRE) finance sectors.
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian
There was a time when an offering memorandum (OM) was pretty bare bones, some photos, a few bullet points on income, and a rent roll thrown in at the back. That used to get the job done. Not anymore. In 2025, buyers are sharper, faster, and more selective. They’re looking
A fresh start - by Shallini Mehra and Amit Doshi
For the past several years, the New York City multifamily housing market has been defined by disruption. The combined impact of the HSTPA rent laws and a sharply higher interest rate environment has fundamentally reduced
Tri-state capital migrates nationally amid regulation pressure - by Reese Weaver
New York tri-state multifamily investors are increasingly reallocating capital to less-regulated markets across the U.S. as rent control and legislative risk erode returns at home. With over 60% of New York City’s rental housing stock classified as rent-stabilized, the traditional value-add model — buying under-performing buildings,
