News:
Brokerage
Posted: August 29, 2023
Ariel Property Advisors brokers sale of
three NYC properties - $10.98 million
Brooklyn, NY Ariel Property Advisors has arranged the sale of three properties in Northern Manhattan, Brooklyn and the Bronx for $10.98 million.
The transactions included the following:
• Harlem, Northern Manhattan. A 30,632 s/f multifamily building at 201 W 148th St. with 25 affordable residential units and one commercial unit sold for $5.855 million. An Ariel team comprised of Victor Sozio, founding partner, Shimon Shkury, president and founder, and Michael Tortorici, founding partner, represented the seller.
• Carroll Gardens, Brooklyn. A 5,480 s/f corner mixed-use building at 65 Woodhull St. sold for $2.9 million. The building includes six residential units (four free market and two rent stabilized) and two retail units. Ariel partner Sean Kelly, associate director Nicole Daniggelis and director Stephen Vorvolakos arranged the sale.
• Wakefield, Bronx. A 10,000 s/f industrial/warehouse property at 4330 Bullard Ave. sold for $2.225 million. The vacant two-story building features 100-ft. of frontage on Bullard Ave. and includes a driveway and loading dock. The transaction team was led by Ariel senior director Jason Gold and director Daniel Mahfar.
Tags:
Brokerage
MORE FROM Brokerage
Fireside Embroidery leases at 1245 Middle Country Rd. in Middle Island
Middle Island, NY Robert Raffa and Robert Monahan of Island Associates negotiated the 1,404 s/f lease for Fireside Embroidery in the Strathmore Shopping
Quick Hits
Columns and Thought Leadership
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,
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
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
