Ariel Property Advisors arranges two sales totaling $14.23 million

Manhattan, NY Ariel Property Advisors has arranged two multifamily sales, a portfolio of affordable housing buildings in West Harlem and a multifamily midrise at 235 East 96th Street on the Upper East Side. The two assets sold for approximately $11.6 million and $2.63 million, respectively.

The West 135th Street LIHTC Portfolio is a package of eight walk-up buildings in West Harlem. The portfolio contains 111 residential units and three retails units, encompassing a total of 101,938 gross s/f. Of the portfolio’s 111 residential units, there are nine studio apartments, 30 one-bedroom units, 55 two-bedroom units, 17 three-bedroom units and one super’s unit. The portfolio was preserved as affordable housing and will remain as such for over 30 years. The sale was arranged by a team led by Victor Sozio, executive vice president, investment sales.

235 East 96^th St., a 10-story, 25-foot wide affordable housing multifamily elevator building on the northwest corner of 2^nd Ave. and 96^th St. Spanning 19,429 gross s/f, it comprises 16 residential units, all of which are two-bedroom apartments. The sale was arranged by a team including Sozio; Mark Anderson, director, investment sales; and Daniel Mahfar, director, investment sales.