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.