News: Brokerage

Ariel Property Advisors sells four-building note portfolio; Team: Sozio, Shkury, Hirschfield and Deutch

Ariel Property Advisors has completed the sale of four notes in the Metro Area Bank Note Portfolio consisting of buildings in New York City and Long Island. The four performing properties, which have a combined outstanding principal balance of more than $5.277 million, include: * A four-story, 5,310 s/f, mixed-use property with three residential units and two retail units on the Upper West Side. * A three-story, 5,340 s/f,walk-up building with six residential units in the Sunset Park section of Brooklyn. * A three-story, 6,226 s/f, walk-up building with eight residential units and two retail units in the East Tremont section of the Bronx. * A two-story, 3,520 s/f building with four retail units in Wantagh, on the South Shore of Long Island. Ariel sales agents Victor Sozio, Shimon Shkury, Scot Hirschfield, and Jesse Deutch represented the seller and buyer, both financial institutions. "Our streamlined process allowed for both due diligence review and the closing to take place within two weeks of receiving the initial offer," said Sozio, vice president of Ariel. "Closing by the end of the year was beneficial to both parties." Another note in the portfolio for a 4,424 s/f building with two retail units in the Bath Beach section of Brooklyn was sold previously in a separate transaction. That note had an outstanding principal balance of $819,410. Two other notes in the portfolio remain for sale.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

Hunt commercial real estate question and answer: The total cost of relocation - by David Hunt

You have a right to be concerned. I am always surprised at the companies that will negotiate the price of their new facility down to the last dollar, without thoroughly analyzing their
The death of the generic offering memorandum: What buyers expect in 2025 - by Kimberly Zar Bloorian

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
Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence in lending - by Lindsay Mesh Lotito

Artificial intelligence (AI) is beginning to help transform lending by enhancing decision-making, improving risk management and streamlining operations. With AI-powered tools that analyze vast amounts of data, lenders are able to assess borrower creditworthiness more accurately and efficiently. AI can evaluate a wide range of factors,
New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

New York’s streets are full again, and the retail numbers prove it - by Noam Aziz

Walk down any New York block this year and you can feel it. The sidewalks are crowded, the storefronts are lit, and the energy that defines this city is back at full volume.