Sozio of Ariel Property Advisors brokers $1.81 million sale of 10-unit multifamily; Five-story property purchased by King Penguin Properties

A five-story, multifamily property at 422 St. Nicholas Ave. in Central Harlem has sold for $1.81 million, according to Ariel Property Advisors. The buyer was King Penguin Properties. The walk-up building consists of ten units, nine of which are three-bedroom units and one two-bedroom unit. The price per unit was $181,000, which is 9.4 times rent roll. Victor Sozio, vice president Ariel Property Advisors, brokered the sale. Ariel Property Advisors is a New York City investment property sales firm founded by Shimon Shkury.

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