Ariel Property Advisors closes three properties for a total of $13 million

New York, NY Ariel Property Advisors has arranged the sale of three properties for $13 million. Two adjacent, free market buildings delivered vacant at 621 & 623 Union Ave. in Williamsburg, sold for $5.5 million, or $891 per s/f. The two properties totaled 6,173 s/f and are located directly across from McCarren Park. An Ariel team that included Sean Kelly, partner, and Benjamin Vago, director, Investment Sales, arranged the sale. 

A 14,700 s/f multifamily property at 532 West 152nd St. in the heart of Hamilton Heights in Upper Manhattan sold for $5 million, which translates to $340 per s/f 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 Tortorici, founding partner; and Mark Anderson, director, Investment Sales.

A mixed-use development site in an Opportunity Zone at 961 Westchester Ave. in the Bronx sold for $2.55 million. Located in the South Bronx, the site provides up to approximately 33,660 buildable s/f 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 Sozio.