Ariel Property Advisors brokers two Harlem multifamily sales totaling $7.215 million

Ariel Property Advisors has brokered the sale of two uptown multifamily properties totaling $7.215 million. In the first deal, a 13,170 s/f, five-story walk-up at 523 West 135th St. between Amsterdam Ave. and Broadway in West Harlem sold for $4.85 million. The building contains 21 residential units, of which four are three-bedroom units and 17 are two-bedroom units. Ariel exclusive agents Victor Sozio, Shimon Shkury, Michael Tortorici, and Josh Berkowitz represented the seller, a real estate investment firm, and procured the buyer, a private investor. "This high-performing asset is located within one of Manhattan's most dynamic residential neighborhoods where Columbia University is building a 17-acre campus," said Sozio, vice president of Ariel. "We have seen a considerable uptick in the value of all asset types around this location." Bordered by West 125th St. to West 134th St. between Broadway and 12th Ave., the $7 billion Columbia University expansion will feature 17 buildings with more than 6.8 million s/f of space reserved for teaching, research, cultural, and recreational facilities. The first building, the Jerome L. Greene Science Center, is scheduled to be completed this year. Additionally, other major retail, residential, and cultural developments planned for 125th St. will turn the east-west corridor into a world-class arts, cultural, and entertainment destination. In addition, Ariel sold a four-story, nine-unit mixed-use building at 167 East 106th St. between Lexington and 3rd Aves. in East Harlem for $2.365 million. The 28.25 ft. wide, 7,328 s/f property consists of nine units, of which eight are residential units and one is a commercial unit. Exclusive agents from Ariel Tortorici, Sozio, Berkowitz, and Marko Agbaba represented the seller, a private owner, and procured the buyer, a real estate investment firm.