News: Brokerage

Ariel Property Advisors sells five properties totaling $6.658 million

Ariel Property Advisors arranged the sale of the following five properties in Brooklyn and Upper Manhattan totaling $6.658 million: * A 7,574 s/f vacant warehouse at 635-639 Classon Ave. in the Prospect Heights section of the city sold for $1.97 million. Jonathan Berman, Shimon Shkury, Michael Tortorici, and Victor Sozio represented the seller and procured the buyer, both local investors. * A 3,332 s/f, four-story, vacant shell at 315 West 112th St. in Central Harlem sold for $1.675 million. Jesse Deutch, Sozio, and Tortorici represented the seller, a private investor, and procured the buyer, a private developer. * A five-story, mixed-use property at 2299 Adam Clayton Powell Jr. Blvd. in Central Harlem sold for $1.413 million. The 8,585 s/f building features 14 units. Sozio, Shkury, Tortorici, Deutch, and Daniel Tropp represented the seller, a private investor, and procured the buyer, a private real estate investment firm. * A one-story, 2,500 s/f warehouse at 105 Dobbin St. in the Greenpoint section of the city sold for $850,000. Berman, Tortorici, and Tropp represented the seller, a private owner, and procured the buyer, an owner/investor. * A development property at 2238A Amsterdam Ave. in Washington Heights sold for $750,000. The 2,500 s/f lot contains a 750 s/f garage. Sozio, Tortorici, and Deutch represented the seller, a private investor, and procured the buyer, a private real estate investment firm.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

Lasting effects of eminent domain on commercial development - by Sebastian Jablonski

The state has the authority to seize all or part of privately owned commercial real estate for public use by the power of eminent domain. Although the state is constitutionally required to provide just compensation to the property owner, it frequently fails to account
Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Behind the post: Why reels, stories, and shorts work for CRE (and how to use them) - by Kimberly Zar Bloorian

Let’s be real: if you’re still only posting photos of properties, you’re missing out. Reels, Stories, and Shorts are where attention lives, and in commercial real estate, attention is currency.
AI comes to public relations, but be cautious, experts say - by Harry Zlokower

AI comes to public relations, but be cautious, experts say - by Harry Zlokower

Last month Bisnow scheduled the New York AI & Technology cocktail event on commercial real estate, moderated by Tal Kerret, president, Silverstein Properties, and including tech officers from Rudin Management, Silverstein Properties, structural engineering company Thornton Tomasetti and the founder of Overlay Capital Build,
Strategic pause - by Shallini Mehra and Chirag Doshi

Strategic pause - by Shallini Mehra and Chirag Doshi

Many investors are in a period of strategic pause as New York City’s mayoral race approaches. A major inflection point came with the Democratic primary victory of Zohran Mamdani, a staunch tenant advocate, with a progressive housing platform which supports rent freezes for rent