News: Brokerage

Spinelli, Tortorici, Shkury, Tropp and Berman of Ariel Property Advisors close $2.7 million sale

Brooklyn, NY Ariel Property Advisors has brokered the sale of 392 15th Street, a three-story, six-unit multifamily building in Park Slope. Located between Seventh and Eighth Aves., the property is located one block west of Prospect Park. The property sold for $2.7 million. The 4,860 s/f building contains six residential units, of which there are five two-bedroom apartments and one three-bedroom duplex. Five of the building’s units have free-market status and one apartment is rent-controlled. Exclusive agents Mark Spinelli, Michael Tortorici, Shimon Shkury, Daniel Tropp, and Jonathan Berman, represented the seller, a private investor. “Offering in-place income, rental upside, and a prime location in an established area, 392 15th St. stands out as a unique Brooklyn multifamily opportunity,” said Spinelli, vice president at Ariel. The building is located in an ideal area with easy access to Grand Army Plaza, The Brooklyn Museum, and the future Nitehawk Prospect Park movie theater. Several transportation options are in walking distance from the property, including the F, G, and R trains.
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Positive forecast for New York’s pro-housing push? - by Philip Butler

Positive forecast for New York’s pro-housing push? - by Philip Butler

New York’s housing crisis remains a hot button topic despite growing consensus that varied and affordable housing is desperately needed statewide. Governor Hochul has recently introduced several initiatives to overcome N.Y.’s anti-housing
Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Hunt commercial real estate question and answer: Fortune 500 wisdom - by David Hunt

Yes, there are lessons to be learned from the largest companies in America when comes to managing your real estate. But the decision to buy or lease real estate may not be one of
A guide to finding the right NYC property management company - by Sanjay Gandhi

A guide to finding the right NYC property management company - by Sanjay Gandhi

Being a small to midsize landlord in NYC is an increasingly demanding endeavor. From navigating complex regulations, increased compliance demands to dealing with tenant issues and remediating violations. It is wise to enlist the assistance of a partner, a professional
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.