Sozio, Shkury, Tortorici, and Lev of Ariel Property Advisors sell Glendale multifamily portfolio: $15.96 million

Queens, NY Ariel Property Advisors has facilitated the sale of the Glendale multifamily portfolio, three adjoining buildings are located at 71-15, 71-21, 71-27 65th St. in the Glendale neighborhood. The 72-unit property trio sold for $15.96 million, which translates to $221,597 per unit and $255 per s/f. Spanning 62,640 s/f, the four-story walk-up buildings are located on 65th St. between Central Ave. and Myrtle Ave.. 

 

 

 

 

Exclusive agents Victor Sozio, Shimon Shkury, Michael Tortorici, and Matthew Lev of Ariel, represented the seller, 71-15 65th St. LLC, and procured the buyer, a group led by Rockabill Development.  

Glendale, a quiet and safe destination that boasts eight primary and secondary schools, is poised for vigorous development in the years to come. Locals in the residential-heavy region benefit from an array of retail outlets, such as The Shops at Atlas Park, a major shopping center that houses well-known stores such as Starbucks, Forever 21, Foot Locker, and a Regal Cinemas movie theater.   

The Glendale multifamily portfolio is located close to the border of Ridgewood and Glendale; as well as the Fresh Pond Road M-train, which provides local service to Queens, Manhattan, and Brooklyn.